Eclipse Resources Corp (ECR) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $-0.33 earnings per share for the quarter, missing the analyst consensus estimate by $-0.24. Analysts had a consensus of $-0.09. The company posted revenue of $47.10 million in the period, compared to analysts expectations of $56.15 million. The company’s revenue was down -36.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.19 EPS.
Many Wall Street Analysts have commented on Eclipse Resources Corp. Eclipse Resources Corp was Upgraded by Johnson Rice to ” Accumulate” on Jun 10, 2016. Eclipse Resources Corp was Upgraded by Seaport Global Securities to ” Buy” on Jun 7, 2016. Company shares were Reiterated by Topeka Capital Markets on May 10, 2016 to “Hold”, Firm has raised the Price Target to $ 3 from a previous price target of $1.50 .
Eclipse Resources Corp opened for trading at $2.82 and hit $3.2 on the upside on Friday, eventually ending the session at $3.15, with a gain of 9.00% or 0.26 points. The heightened volatility saw the trading volume jump to 39,34,541 shares. Company has a market cap of $702 M.
In a different news, on Mar 11, 2016, Matthew R Denezza (EVP & CFO) sold 15,396 shares at $1.10 per share price.
Eclipse Resources Corporation (Eclipse) 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. It has assembled an acreage position approximating 221700 net acres in Eastern Ohio. Approximately 100700 of its net acres are located in the Utica Shale fairway which it refers to as the Utica Core Area and approximately 27250 of these net acres are also prospective for the area of the Marcellus Shale in Eastern Ohio within what it refers to as its Marcellus Project Area. The Company is the operator of approximately 85% of its net acreage within the Utica Core Area and its Marcellus Project Area. Eclipse has identified approximately 3112 gross (810 net) remaining horizontal drilling locations across its acreage which comprises 605 locations within the Utica Core Area and 205 locations within its Marcellus Project Area.