Lilis Energy Inc (NASDAQ:LLEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 17th.
According to Zacks, “Lilis Energy, Inc. is an independent oil and gas exploration and production company. It is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the DJ Basin. Lilis Energy, Inc., formerly known as Recovery Energy, Inc., is based in Denver. “
A number of other equities analysts have also issued reports on LLEX. Stephens assumed coverage on shares of Lilis Energy in a research report on Friday, September 29th. They set an “overweight” rating and a $6.00 target price on the stock. Williams Capital assumed coverage on shares of Lilis Energy in a research report on Tuesday, September 26th. They set a “buy” rating and a $7.00 target price on the stock. SunTrust Banks, Inc. assumed coverage on shares of Lilis Energy in a research report on Monday, August 14th. They set a “buy” rating and a $7.00 target price on the stock. Leerink Swann assumed coverage on shares of Lilis Energy in a report on Monday, August 28th. They issued an “outperform” rating and a $6.00 price objective on the stock. Finally, Seaport Global Securities restated a “buy” rating and issued a $8.00 price objective (up from $6.75) on shares of Lilis Energy in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $6.71.
Shares of Lilis Energy (NASDAQ:LLEX) traded up $0.32 during mid-day trading on Tuesday, hitting $5.48. 120,685 shares of the stock were exchanged, compared to its average volume of 185,376. Lilis Energy has a 12 month low of $2.10 and a 12 month high of $5.69.
In other Lilis Energy news, major shareholder Fund Vertex sold 10,720 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $5.01, for a total value of $53,707.20. Following the sale, the insider now directly owns 6,962,640 shares in the company, valued at $34,882,826.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Several hedge funds have recently modified their holdings of the company. National Asset Management Inc. increased its position in shares of Lilis Energy by 22.7% during the second quarter. National Asset Management Inc. now owns 21,600 shares of the company’s stock worth $106,000 after acquiring an additional 4,000 shares in the last quarter. Nationwide Fund Advisors bought a new stake in shares of Lilis Energy during the second quarter worth $117,000. Biegel & Waller LLC bought a new stake in shares of Lilis Energy during the second quarter worth $123,000. The Manufacturers Life Insurance Company bought a new position in Lilis Energy in the second quarter valued at $180,000. Finally, Rhumbline Advisers bought a new position in Lilis Energy in the second quarter valued at $219,000.
About Lilis Energy
Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.
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