Brokerages Set Lilis Energy Inc (LLEX) Target Price at $6.56

Shares of Lilis Energy Inc (NYSEAMERICAN:LLEX) have been assigned an average rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.63.

LLEX has been the subject of several recent research reports. B. Riley increased their price objective on shares of Lilis Energy from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research raised shares of Lilis Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th.

In other news, major shareholder Fund Vertex sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $5.95, for a total transaction of $595,000.00. Following the completion of the transaction, the insider now directly owns 6,297,174 shares in the company, valued at approximately $37,468,185.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director G Tyler Runnels bought 30,000 shares of Lilis Energy stock in a transaction dated Monday, May 14th. The shares were acquired at an average price of $4.35 per share, with a total value of $130,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 650,000 shares of company stock valued at $3,625,500.

A number of institutional investors and hedge funds have recently made changes to their positions in LLEX. Southpaw Asset Management LP bought a new position in Lilis Energy during the first quarter worth $8,314,000. Mobius Capital Management LLC bought a new position in Lilis Energy during the first quarter worth $710,000. Victory Capital Management Inc. bought a new position in Lilis Energy during the first quarter worth $657,000. Vertex One Asset Management Inc. lifted its stake in Lilis Energy by 2.1% during the first quarter. Vertex One Asset Management Inc. now owns 7,342,758 shares of the company’s stock worth $29,151,000 after purchasing an additional 153,278 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in Lilis Energy during the first quarter worth $453,000.

LLEX traded down $0.09 on Monday, reaching $5.00. 15,858 shares of the company’s stock were exchanged, compared to its average volume of 295,067. Lilis Energy has a twelve month low of $2.95 and a twelve month high of $6.30.

Lilis Energy (NYSEAMERICAN:LLEX) last posted its earnings results on Thursday, May 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.05). The business had revenue of $14.40 million for the quarter, compared to analyst estimates of $13.13 million. Lilis Energy had a negative return on equity of 419.18% and a negative net margin of 115.71%.

Lilis Energy declared that its board has approved a stock buyback plan on Wednesday, February 21st that allows the company to buyback $10.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Lilis Energy Company Profile

Lilis Energy, Inc, an independent oil and gas company, engages in the exploration, acquisition, development, and production of oil and natural gas properties. The company's total net acreage in the Permian Basin is approximately 19,000 acres. As of December 31, 2017, it had proved reserves of 11,453 million barrels of oil equivalent, including proved developed reserves of 4,275 million barrels of oil equivalent and proved undeveloped reserves of 7,178 million barrels of oil equivalent.

Analyst Recommendations for Lilis Energy (NYSEAMERICAN:LLEX)

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