RBC Capital Remains a Buy on Eclipse Resources

By Austin Angelo

In a report issued on September 14, Scott Hanold from RBC Capital reiterated a Buy rating on Eclipse Resources (NYSE: ECR), with a price target of $3.50. The company’s shares closed yesterday at $2.37.

According to TipRanks.com, Hanold is ranked 0 out of 5 stars with an average return of -15.8% and a 23.4% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Contango Oil & Gas Company, Sanchez Energy Corporation, and Quicksilver Resources Inc.

Currently, the analyst consensus on Eclipse Resources is Hold and the average price target is $3.06, representing a 29.1% upside.

In a report issued on September 13, Stifel Nicolaus also reiterated a Buy rating on the stock with a $4 price target.

Based on Eclipse Resources’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $86.19 million and quarterly net profit of $11.49 million. In comparison, last year the company earned revenue of $47.07 million and had a GAAP net loss of $73.01 million.

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Eclipse Resources Corp. operates as an exploration and production company, which engages in the acquisition and development of oil and natural gas properties. The company was founded on February 13, 2014 and is headquartered in State College, PA.