Eclipse Resources (ECR) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Eclipse Resources (NYSE:ECR) from a buy rating to a hold rating in a report published 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. “

A number of other brokerages have also recently commented on ECR. KLR Group reissued a buy rating and set a $2.00 target price on shares of Eclipse Resources in a report on Monday, August 20th. Capital One Financial raised Eclipse Resources from an equal weight rating to an overweight rating in a report on Tuesday, August 28th. Stifel Nicolaus reduced their target price on Eclipse Resources from $1.70 to $1.40 and set a hold rating for the company in a report on Friday, August 31st. Finally, Goldman Sachs Group raised Eclipse Resources from a sell rating to a neutral rating and set a $2.00 target price for the company in a report on Tuesday, September 11th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Eclipse Resources has an average rating of Buy and a consensus target price of $2.11.

NYSE ECR traded up $0.06 during trading hours on Tuesday, reaching $1.30. The company’s stock had a trading volume of 2,309,969 shares, compared to its average volume of 1,038,805. The stock has a market capitalization of $390.27 million, a price-to-earnings ratio of -32.50 and a beta of 2.45. Eclipse Resources has a 1-year low of $0.99 and a 1-year high of $2.79. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.92.

Eclipse Resources (NYSE:ECR) last announced its earnings results on Wednesday, October 31st. The energy producer reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Eclipse Resources had a positive return on equity of 3.24% and a negative net margin of 6.87%. The business had revenue of $130.12 million during the quarter, compared to analysts’ expectations of $113.12 million. Equities analysts predict that Eclipse Resources will post -0.02 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in ECR. Russell Investments Group Ltd. grew its position in shares of Eclipse Resources by 40.1% in the third quarter. Russell Investments Group Ltd. now owns 3,846,312 shares of the energy producer’s stock valued at $4,577,000 after purchasing an additional 1,101,503 shares in the last quarter. Northern Trust Corp grew its position in shares of Eclipse Resources by 6.2% in the second quarter. Northern Trust Corp now owns 1,106,289 shares of the energy producer’s stock valued at $1,771,000 after purchasing an additional 64,874 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Eclipse Resources by 89.3% in the second quarter. Chicago Partners Investment Group LLC now owns 147,015 shares of the energy producer’s stock valued at $235,000 after purchasing an additional 69,364 shares in the last quarter. Signaturefd LLC purchased a new stake in shares of Eclipse Resources in the second quarter valued at approximately $160,000. Finally, Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 100,287 shares in the last quarter. 79.25% of the stock is 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.

Further Reading: Return on Investment (ROI)

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