Lilis Energy (LLEX) Trading Up 27.7%

Lilis Energy Inc (NYSEAMERICAN:LLEX) was up 27.7% on Monday . The company traded as high as $2.63 and last traded at $2.63. Approximately 860,180 shares traded hands during trading, an increase of 128% from the average daily volume of 376,713 shares. The stock had previously closed at $2.06.

Several equities research analysts have commented on LLEX shares. Ifs Securities started coverage on shares of Lilis Energy in a research report on Monday, October 29th. They issued an “outperform” rating on the stock. Williams Capital cut shares of Lilis Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.00 to $5.00 in a research report on Wednesday, October 17th. Finally, Stifel Nicolaus dropped their price target on shares of Lilis Energy from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $7.33.

Lilis Energy (NYSEAMERICAN:LLEX) last issued its quarterly earnings results on Thursday, November 1st. The company reported ($0.09) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.09). The company had revenue of $19.48 million during the quarter, compared to analysts’ expectations of $22.17 million.

In related news, major shareholder Fund Vertex sold 117,696 shares of Lilis Energy stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $4.72, for a total value of $555,525.12. Following the transaction, the insider now owns 6,043,301 shares of the company’s stock, valued at approximately $28,524,380.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Daniel Christensen sold 52,865 shares of Lilis Energy stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $5.41, for a total value of $285,999.65. Following the transaction, the director now directly owns 23,954 shares in the company, valued at approximately $129,591.14. The disclosure for this sale can be found here. In the last three months, insiders purchased 51,000 shares of company stock worth $151,550 and sold 7,181,832 shares worth $35,189,197.

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in Lilis Energy during the 1st quarter valued at about $135,000. Biegel & Waller LLC grew its stake in Lilis Energy by 66.7% during the 3rd quarter. Biegel & Waller LLC now owns 62,500 shares of the company’s stock valued at $306,000 after acquiring an additional 25,000 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Lilis Energy by 19.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,300 shares of the company’s stock valued at $444,000 after acquiring an additional 13,600 shares in the last quarter. EAM Investors LLC purchased a new position in Lilis Energy during the 2nd quarter valued at about $630,000. Finally, Victory Capital Management Inc. grew its stake in Lilis Energy by 42.2% during the 2nd quarter. Victory Capital Management Inc. now owns 235,334 shares of the company’s stock valued at $1,223,000 after acquiring an additional 69,800 shares in the last quarter.

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Lilis Energy Company Profile (NYSEAMERICAN:LLEX)

Lilis Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of conventional and unconventional oil and natural gas properties. Its total net acreage in the Permian Basin is approximately 19,000 acres. The company's oil and natural gas properties are located in the Delaware Basin in Winkler, Loving, and Reeves counties, Texas; and Lea County, New Mexico.

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