Eclipse Resources Corporation (ECR) : Traders are bullish on Eclipse Resources Corporation (ECR) as it has outperformed the S&P 500 by a wide margin of 31.13% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.57%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.54% in the last 1 week, and is up 31.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Eclipse Resources Corporation is up 43.65% in the last 3-month period. Year-to-Date the stock performance stands at 98.9%. The stock has recorded a 20-day Moving Average of 11.49% and the 50-Day Moving Average is 9.02%.
Eclipse Resources Corporation (NYSE:ECR): The stock opened at $3.68 on Friday but the bulls could not build on the opening and the stock topped out at $3.70 for the day. The stock traded down to $3.60 during the day, due to lack of any buying support eventually closed down at $3.62 with a loss of -2.16% for the day. The stock had closed at $3.70 on the previous day. The total traded volume was 968,028 shares.
Also, In the latest statement by the brokerage house, PiperJaffray upgrades its outlook on Eclipse Resources Corporation (NYSE:ECR). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Underweight. The rating by the firm was issued on August 9, 2016.
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 221,700 net acres in Eastern Ohio. Approximately 100,700 of its net acres are located in the Utica Shale fairway, which it refers to as the Utica Core Area, and approximately 27,250 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 3,112 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.