Seaport Global Upgrades Eclipse Resources Corp to Buy

Brokerage firm Seaport Global Upgrades its rating on Eclipse Resources Corp(ECR). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Seaport Global was issued on Feb 6, 2017.

Eclipse Resources Corp (ECR) shares turned negative on Tuesdays trading session with the shares closing down -0.1 points or -3.88% at a volume of 12,64,964. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.645. The peak price level was also seen at $2.645 while the days lowest was $2.46. Finally the shares closed at $2.48. The 52-week high of the shares is $4.4216 while the 52-week low is $0.65. According to the latest information available, the market cap of the company is $646 M.

Eclipse Resources Corp(ECR) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $58.78M. Analysts had an estimated revenue of $52.89M. Earnings per share were $-0.11. Analysts had estimated an EPS of $-0.08.

Several Insider Transactions has been reported to the SEC. On Aug 19, 2016, Benjamin Ward Hulburt (President and CEO) sold 58,979 shares at $3.59 per share price.Also, 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.

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