Zacks Investment Research downgraded shares of Eclipse Resources Corp. (NYSE:ECR) from a buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Eclipse Resources Corporation is an independent exploration and production company. It is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. Eclipse Resources Corporation is headquartered in State College, Pennsylvania. “
Several other analysts have also recently weighed in on the company. GMP Securities began coverage on Eclipse Resources Corp. in a research report on Wednesday, September 28th. They set a buy rating and a $7.00 price objective on the stock. Piper Jaffray Cos. raised Eclipse Resources Corp. from an underweight rating to a neutral rating in a research report on Tuesday, August 9th. BMO Capital Markets reaffirmed a hold rating and set a $4.00 price objective on shares of Eclipse Resources Corp. in a research report on Tuesday, July 5th. Barclays PLC lifted their price objective on Eclipse Resources Corp. from $2.00 to $3.00 and gave the company an equal weight rating in a research report on Thursday, July 14th. Finally, Simmons raised Eclipse Resources Corp. from an underweight rating to a neutral rating and lifted their price objective for the company from $3.00 to $4.00 in a research report on Tuesday, August 9th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Eclipse Resources Corp. currently has an average rating of Hold and an average price target of $3.29.
Shares of Eclipse Resources Corp. (NYSE:ECR) traded down 1.75% during mid-day trading on Tuesday, hitting $3.36. The company had a trading volume of 69,217 shares. The firm has a 50-day moving average price of $3.39 and a 200-day moving average price of $2.95. Eclipse Resources Corp. has a 52 week low of $0.65 and a 52 week high of $4.42. The firm’s market capitalization is $875.59 million.
Eclipse Resources Corp. (NYSE:ECR) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.25. The business earned $47.10 million during the quarter, compared to the consensus estimate of $51.49 million. Eclipse Resources Corp. had a negative return on equity of 32.33% and a negative net margin of 431.72%. The firm’s revenue for the quarter was down 36.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) earnings per share. Equities analysts forecast that Eclipse Resources Corp. will post ($0.26) earnings per share for the current year.
In related news, insider Benjamin Ward Hulburt sold 58,979 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $3.59, for a total value of $211,734.61. Following the completion of the transaction, the insider now directly owns 834,772 shares in the company, valued at approximately $2,996,831.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Investment Management LLC raised its position in shares of Eclipse Resources Corp. by 11.8% in the second quarter. BlackRock Investment Management LLC now owns 191,757 shares of the company’s stock worth $640,000 after buying an additional 20,306 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Eclipse Resources Corp. by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,156,297 shares of the company’s stock worth $3,862,000 after buying an additional 32,769 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in shares of Eclipse Resources Corp. during the second quarter worth $141,000. Geduld E E bought a new stake in shares of Eclipse Resources Corp. during the second quarter worth $167,000. Finally, Monashee Investment Management LLC bought a new stake in shares of Eclipse Resources Corp. during the second quarter worth $167,000. Institutional investors own 32.86% of the company’s stock.
About Eclipse Resources Corp.
Eclipse Resources Corporation (Eclipse) is an independent exploration and production company. The Company is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. The Company has assembled an acreage position approximating 221,700 net acres in Eastern Ohio.