Lilis Energy Inc (NYSEAMERICAN:LLEX) – Equities research analysts at SunTrust Banks raised their FY2018 earnings per share estimates for shares of Lilis Energy in a research note issued on Tuesday, March 13th, Zacks Investment Research reports. SunTrust Banks analyst N. Dingmann now forecasts that the company will post earnings per share of ($0.15) for the year, up from their prior forecast of ($0.22). SunTrust Banks also issued estimates for Lilis Energy’s FY2020 earnings at $0.73 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Lilis Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. B. Riley initiated coverage on Lilis Energy in a research report on Tuesday, February 6th. They set a “buy” rating and a $5.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.56.
Shares of NYSEAMERICAN:LLEX traded down $0.06 during trading on Thursday, reaching $3.99. 186,740 shares of the company’s stock traded hands, compared to its average volume of 208,958. Lilis Energy has a fifty-two week low of $2.95 and a fifty-two week high of $5.69.
Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Lilis Energy by 163.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 34,936 shares of the company’s stock valued at $179,000 after buying an additional 21,692 shares during the period. Wells Fargo & Company MN raised its position in shares of Lilis Energy by 799.6% during the 4th quarter. Wells Fargo & Company MN now owns 26,816 shares of the company’s stock valued at $137,000 after buying an additional 23,835 shares during the period. BlackRock Inc. raised its position in shares of Lilis Energy by 1.3% during the 4th quarter. BlackRock Inc. now owns 2,019,513 shares of the company’s stock valued at $10,320,000 after buying an additional 25,730 shares during the period. Geode Capital Management LLC raised its position in shares of Lilis Energy by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 331,987 shares of the company’s stock valued at $1,696,000 after buying an additional 27,331 shares during the period. Finally, Wolverine Trading LLC raised its position in shares of Lilis Energy by 411.0% during the 3rd quarter. Wolverine Trading LLC now owns 61,188 shares of the company’s stock valued at $274,000 after buying an additional 49,214 shares during the period.
Lilis Energy announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 21st that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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About Lilis Energy
Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.
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