Eclipse Resources (ECR) Lifted to “Strong-Buy” at Zacks Investment Research

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Eclipse Resources (NYSE:ECR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $1.75 price objective on the energy producer’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 2.94% from the company’s current price.

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. “

ECR has been the topic of several other research reports. Stifel Nicolaus started coverage on shares of Eclipse Resources in a report on Tuesday, May 22nd. They issued a “hold” rating and a $1.50 price target on the stock. ValuEngine raised shares of Eclipse Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. KeyCorp decreased their price target on shares of Eclipse Resources from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, April 23rd. Finally, KLR Group reaffirmed a “buy” rating and issued a $2.00 price target on shares of Eclipse Resources in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $2.42.

Eclipse Resources stock opened at $1.70 on Monday. The firm has a market capitalization of $477.67 million, a PE ratio of -42.25 and a beta of 2.89. Eclipse Resources has a fifty-two week low of $1.23 and a fifty-two week high of $2.79. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.86.

Eclipse Resources (NYSE:ECR) last released its quarterly earnings results on Thursday, August 2nd. The energy producer reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $103.62 million for the quarter, compared to analysts’ expectations of $97.53 million. Eclipse Resources had a negative net margin of 12.57% and a positive return on equity of 0.53%. sell-side analysts anticipate that Eclipse Resources will post -0.05 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Eclipse Resources by 4.6% in the second quarter. BlackRock Inc. now owns 6,964,346 shares of the energy producer’s stock valued at $11,143,000 after acquiring an additional 307,358 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Eclipse Resources by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,838,570 shares of the energy producer’s stock valued at $6,968,000 after acquiring an additional 159,937 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Eclipse Resources by 28.4% in the first quarter. Russell Investments Group Ltd. now owns 3,239,301 shares of the energy producer’s stock valued at $4,665,000 after acquiring an additional 716,264 shares during the last quarter. Rubric Capital Management LP increased its stake in Eclipse Resources by 18.5% in the first quarter. Rubric Capital Management LP now owns 3,199,478 shares of the energy producer’s stock valued at $4,607,000 after acquiring an additional 499,478 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Eclipse Resources by 3.6% in the second quarter. Renaissance Technologies LLC now owns 2,849,501 shares of the energy producer’s stock valued at $4,559,000 after acquiring an additional 100,287 shares during the last quarter. 84.16% of the stock is currently owned by institutional investors and hedge funds.

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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