Eclipse Resources Corporation (NYSE:ECR)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank Of Canada in a research note issued to investors on Friday. They currently have a $3.50 price target on the energy producer’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 47.68% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $5.00 price objective (up previously from $4.00) on shares of Eclipse Resources Corporation in a research report on Monday, June 19th. Seaport Global Securities cut shares of Eclipse Resources Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $3.25 to $2.75 in a research report on Wednesday, June 21st. BidaskClub cut shares of Eclipse Resources Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) cut shares of Eclipse Resources Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $2.25 to $1.50 in a research report on Friday, September 8th. Finally, KLR Group set a $4.00 price objective on shares of Eclipse Resources Corporation and gave the company a “buy” rating in a research report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Eclipse Resources Corporation has an average rating of “Hold” and an average target price of $3.24.
Eclipse Resources Corporation (ECR) opened at 2.37 on Friday. The firm has a 50-day moving average of $2.38 and a 200-day moving average of $2.40. Eclipse Resources Corporation has a 1-year low of $1.60 and a 1-year high of $3.66. The stock’s market cap is $622.69 million.
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In related news, COO Oleg E. Tolmachev sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $2.57, for a total value of $51,400.00. Following the completion of the transaction, the chief operating officer now directly owns 423,920 shares of the company’s stock, valued at $1,089,474.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC grew its holdings in shares of Eclipse Resources Corporation by 83.3% in the second quarter. Voya Investment Management LLC now owns 38,699 shares of the energy producer’s stock valued at $111,000 after purchasing an additional 17,591 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Eclipse Resources Corporation during the first quarter worth $136,000. UBS Asset Management Americas Inc. boosted its stake in Eclipse Resources Corporation by 99.3% during the first quarter. UBS Asset Management Americas Inc. now owns 57,000 shares of the energy producer’s stock worth $145,000 after buying an additional 28,400 shares during the period. New York State Common Retirement Fund boosted its stake in Eclipse Resources Corporation by 27.5% during the second quarter. New York State Common Retirement Fund now owns 56,100 shares of the energy producer’s stock worth $160,000 after buying an additional 12,099 shares during the period. Finally, Virtu KCG Holdings LLC boosted its stake in Eclipse Resources Corporation by 474.2% during the second quarter. Virtu KCG Holdings LLC now owns 64,394 shares of the energy producer’s stock worth $184,000 after buying an additional 53,179 shares during the period. 93.66% of the stock is owned by hedge funds and other institutional investors.
About Eclipse Resources Corporation
Eclipse Resources Corporation is an independent exploration and production company. The Company is engaged in the acquisition and development of oil and natural gas properties in the Appalachian Basin. The Company is the operator of the Utica Core Area and its Marcellus Project Area. The Ordovician-aged Utica Shale is an unconventional reservoir consisting of organic-rich black shale, with production occurring at vertical depths between 6,000 and 10,000 feet.
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