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

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Zacks Investment Research lowered shares of Eclipse Resources (NYSE:ECR) from a buy rating to a hold rating in a research note 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. “

Several other research analysts have also weighed in on the company. Capital One Financial upgraded Eclipse Resources from an equal weight rating to an overweight rating in a research report on Tuesday, August 28th. KLR Group restated a buy rating and set a $2.00 price target on shares of Eclipse Resources in a research report on Monday, August 20th. Goldman Sachs Group upgraded Eclipse Resources from a sell rating to a neutral rating and set a $2.00 price target for the company in a research report on Tuesday, September 11th. Finally, Stifel Nicolaus lowered their price target on Eclipse Resources from $1.70 to $1.40 and set a hold rating for the company in a research report on Friday, August 31st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Eclipse Resources has an average rating of Buy and an average price target of $2.11.

Eclipse Resources stock traded up $0.06 during mid-day trading on Tuesday, hitting $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 firm 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 debt-to-equity ratio of 0.92, a quick ratio of 0.78 and a current ratio of 0.78.

Eclipse Resources (NYSE:ECR) last issued its quarterly earnings data on Wednesday, October 31st. The energy producer reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The company had revenue of $130.12 million during the quarter, compared to analyst estimates of $113.12 million. Eclipse Resources had a positive return on equity of 3.24% and a negative net margin of 6.87%. Analysts forecast that Eclipse Resources will post -0.02 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Eclipse Resources by 40.1% during the third quarter. Russell Investments Group Ltd. now owns 3,846,312 shares of the energy producer’s stock worth $4,577,000 after buying an additional 1,101,503 shares during the period. Northern Trust Corp boosted its position in shares of Eclipse Resources by 6.2% during the second quarter. Northern Trust Corp now owns 1,106,289 shares of the energy producer’s stock worth $1,771,000 after buying an additional 64,874 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Eclipse Resources by 89.3% during the second quarter. Chicago Partners Investment Group LLC now owns 147,015 shares of the energy producer’s stock worth $235,000 after buying an additional 69,364 shares during the period. Signaturefd LLC purchased a new position in shares of Eclipse Resources during the second quarter worth $160,000. Finally, Renaissance Technologies LLC boosted its position in shares of Eclipse Resources by 3.6% during the second quarter. Renaissance Technologies LLC now owns 2,849,501 shares of the energy producer’s stock worth $4,559,000 after buying an additional 100,287 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

Eclipse Resources Company Profile

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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