Eclipse Resources (ECR) Trading Up 5.9%

Shares of Eclipse Resources (NYSE:ECR) were up 5.9% during mid-day trading on Friday . The company traded as high as $1.47 and last traded at $1.44. Approximately 1,016,900 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 833,841 shares. The stock had previously closed at $1.36.

A number of analysts have issued reports on ECR shares. Johnson Rice upgraded shares of Eclipse Resources from an “accumulate” rating to a “buy” rating in a research note on Monday, December 11th. Scotiabank set a $4.00 target price on shares of Eclipse Resources and gave the company a “hold” rating in a research note on Tuesday, December 12th. Seaport Global Securities upgraded shares of Eclipse Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. KeyCorp set a $3.00 target price on shares of Eclipse Resources and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Zacks Investment Research cut shares of Eclipse Resources from a “hold” rating to a “sell” rating in a research note on Friday, March 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Eclipse Resources presently has an average rating of “Hold” and a consensus target price of $3.23.

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The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $434.55, a price-to-earnings ratio of -36.00 and a beta of 2.86.

Eclipse Resources (NYSE:ECR) last issued its quarterly earnings data on Wednesday, February 28th. The energy producer reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. Eclipse Resources had a net margin of 2.22% and a negative return on equity of 1.34%. The business had revenue of $104.06 million during the quarter, compared to analysts’ expectations of $101.37 million. During the same period in the previous year, the company earned ($0.02) earnings per share. Eclipse Resources’s revenue for the quarter was up 22.3% on a year-over-year basis. equities research analysts forecast that Eclipse Resources will post -0.09 EPS for the current fiscal year.

In related news, COO Oleg E. Tolmachev sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $1.62, for a total transaction of $81,000.00. Following the transaction, the chief operating officer now owns 594,051 shares of the company’s stock, valued at $962,362.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Encap Energy Capital Fund Viii bought 37,823,596 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were bought at an average cost of $2.44 per share, for a total transaction of $92,289,574.24. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new position in Eclipse Resources during the third quarter worth $101,000. GSA Capital Partners LLP increased its position in Eclipse Resources by 120.5% during the third quarter. GSA Capital Partners LLP now owns 45,304 shares of the energy producer’s stock worth $113,000 after acquiring an additional 24,754 shares during the period. Engineers Gate Manager LP bought a new position in Eclipse Resources during the fourth quarter worth $113,000. Bank of Montreal Can bought a new position in Eclipse Resources during the fourth quarter worth $117,000. Finally, Virtu Financial LLC bought a new position in Eclipse Resources during the fourth quarter worth $141,000. 80.65% of the stock is currently owned by institutional investors and hedge funds.

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About Eclipse Resources

Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company holds interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2017, it had an acreage position approximately covering an area of 203,000 net acres in Eastern Ohio.

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