Seaport Global Securities Weighs in on Eclipse Resources Corp’s Q4 2018 Earnings (ECR)
Eclipse Resources Corp (NYSE:ECR) – Research analysts at Seaport Global Securities increased their Q4 2018 EPS estimates for shares of Eclipse Resources in a research note issued on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the energy producer will post earnings per share of $0.03 for the quarter, up from their previous forecast of $0.02. Seaport Global Securities currently has a “Buy” rating on the stock.
Other research analysts have also issued reports about the company. Stifel Nicolaus set a $5.00 price target on Eclipse Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded Eclipse Resources from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Tuesday, October 3rd. Royal Bank of Canada restated a “buy” rating and set a $3.50 price target on shares of Eclipse Resources in a research report on Friday, September 15th. KeyCorp set a $3.00 price target on Eclipse Resources and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Johnson Rice upgraded Eclipse Resources from an “accumulate” rating to a “buy” rating in a research report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $2.96.
Eclipse Resources (NYSE:ECR) traded down $0.06 on Friday, hitting $2.44. The stock had a trading volume of 320,569 shares, compared to its average volume of 604,546. Eclipse Resources has a 1-year low of $1.60 and a 1-year high of $3.10. The stock has a market capitalization of $641.09, a price-to-earnings ratio of -15.25 and a beta of 3.06. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.62.
Eclipse Resources (NYSE:ECR) last released its quarterly earnings results on Wednesday, November 8th. The energy producer reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Eclipse Resources had a negative return on equity of 3.00% and a negative net margin of 11.46%. The business had revenue of $91.55 million during the quarter, compared to analyst estimates of $90.67 million. During the same period last year, the business posted ($0.10) earnings per share. The company’s quarterly revenue was up 68.4% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in ECR. Geode Capital Management LLC raised its stake in shares of Eclipse Resources by 2.2% in the first quarter. Geode Capital Management LLC now owns 645,200 shares of the energy producer’s stock valued at $1,638,000 after acquiring an additional 13,743 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eclipse Resources by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,009,003 shares of the energy producer’s stock valued at $5,101,000 after acquiring an additional 388,924 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Eclipse Resources by 6.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 271,160 shares of the energy producer’s stock valued at $689,000 after acquiring an additional 17,100 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Eclipse Resources by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 147,715 shares of the energy producer’s stock valued at $375,000 after acquiring an additional 29,454 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Eclipse Resources by 16.2% in the second quarter. Russell Investments Group Ltd. now owns 1,011,967 shares of the energy producer’s stock valued at $2,894,000 after acquiring an additional 141,036 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.
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About Eclipse Resources
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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