Investors are a little more bullish on shares of the company lately if you evaluate the downtick in short interest. The firm saw a fall in short interest from October 13, 2017 to October 31, 2017 of -7.30%. Short interest decreased from 2,525,145 to 2,340,733 over that period. Days to cover decreased -2.0 to 5.0 and the percentage of shorted shares was 0.01% on October 31.
A few notable investment firms have updated their holdings. Virginia Retirement Systems ET AL downsized its investment by shedding 5,003 shares a decrease of 29.7% in the quarter. Virginia Retirement Systems ET AL controls 11,862 shares with a value of $30,000. The value of the position overall is down by 37.5%. As of quarter end California State Teachers Retirement System had sold 17,350 shares trimming its holdings by 11.2%. The value of the investment in (ECR) decreased from $443,000 to $344,000 a change of $99,000 since the last quarter.
As of the end of the quarter Dimensional Fund Advisors Lp had acquired a total of 949,886 shares growing its stake by 31.3%. The value of the investment in ECR went from $8,690,000 to $9,970,000 a change of 14.7% quarter to quarter. Ubs Asset Management Americas Inc trimmed its holdings by selling 8,880 shares a decrease of 62.5% from 06/30/2017 to 09/30/2017. Ubs Asset Management Americas Inc now holds 5,320 shares worth $13,300,000. The total value of its holdings decreased 67.3%.
November 9 investment analysts at Capital One Financial Corporation reiterated a “Equal Weight” rating on the company. Equity analyst KeyCorp released guidance on ECR with a rating of “Buy” and establishing a price target of $3.00.
On October 11, 2017 Barclays PLC issued a report on ECR stating a rating of “Hold” and price target of $2.50. BMO Capital Markets updated coverage of ECR and giving a rating of “Hold” and a price target of $3.00.
On October 5 analysts at Stifel Nicolaus updated guidance on ECR and giving a rating of “Buy” and projecting a price target of $5.00. September 15 investment analysts at Royal Bank Of Canada made no change to the company rating of “Buy” with a current price target of $3.50.
In the market the company is trading unchanged from yesterday’s close of 2.48. Eclipse Resources Corp currently has a P/E ratio of N/A and the market cap of the company is 652.91M. In the last earnings report the EPS was $-0.16 with 262.74M shares presently outstanding.
Eclipse Resources Corporation, launched on February 13, 2014, is an independent exploration and production company. The Company is involved 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. As of December 31, 2016, the Company had commenced drilling 202 gross wells within the Utica Core Area and three gross wells within its Marcellus Area. As of December 31, 2016, it had approximately 92,000 net acres in the Utica Shale in Eastern Ohio within the Utica Core Area. As of December 31, 2016, the Company had assembled an acreage position approximating 199,000 net acres in Eastern Ohio..