Lilis Energy Inc (NYSEAMERICAN:LLEX) – Analysts at SunTrust Banks lowered their FY2018 earnings estimates for Lilis Energy in a note issued to investors on Sunday, November 4th. SunTrust Banks analyst N. Dingmann now forecasts that the company will earn ($0.22) per share for the year, down from their prior forecast of ($0.15). SunTrust Banks also issued estimates for Lilis Energy’s Q4 2018 earnings at ($0.10) EPS, FY2019 earnings at $0.05 EPS and FY2020 earnings at $0.62 EPS.
A number of other brokerages have also recently commented on LLEX. Stifel Nicolaus assumed coverage on shares of Lilis Energy in a research note on Tuesday, July 31st. They set a “buy” rating on the stock. Williams Capital cut shares of Lilis Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.00 to $5.00 in a research note on Wednesday, October 17th. Finally, Ifs Securities assumed coverage on shares of Lilis Energy in a research note on Monday, October 29th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $7.33.
LLEX opened at $3.01 on Wednesday. Lilis Energy has a twelve month low of $2.57 and a twelve month high of $6.30.
Lilis Energy (NYSEAMERICAN:LLEX) last released its earnings results on Thursday, August 9th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.12). The business had revenue of $17.48 million for the quarter, compared to analysts’ expectations of $21.78 million.
Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC bought a new position in shares of Lilis Energy in the 1st quarter worth $135,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Lilis Energy by 19.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,300 shares of the company’s stock worth $444,000 after buying an additional 13,600 shares during the last quarter. Biegel & Waller LLC increased its holdings in shares of Lilis Energy by 66.7% in the 3rd quarter. Biegel & Waller LLC now owns 62,500 shares of the company’s stock worth $306,000 after buying an additional 25,000 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Lilis Energy by 38.3% in the 2nd quarter. BlackRock Inc. now owns 2,762,139 shares of the company’s stock worth $14,363,000 after buying an additional 765,647 shares during the last quarter. Finally, Southpaw Asset Management LP increased its holdings in shares of Lilis Energy by 49.7% in the 2nd quarter. Southpaw Asset Management LP now owns 3,135,207 shares of the company’s stock worth $16,303,000 after buying an additional 1,040,893 shares during the last quarter.
In other news, Director David M. Wood bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were acquired at an average price of $4.83 per share, with a total value of $48,300.00. Following the acquisition, the director now owns 30,000 shares of the company’s stock, valued at approximately $144,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joseph C. Daches bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $3.03 per share, for a total transaction of $75,750.00. Following the acquisition, the chief financial officer now directly owns 599,234 shares in the company, valued at approximately $1,815,679.02. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 106,000 shares of company stock worth $399,800 and have sold 7,181,832 shares worth $35,189,197.
Lilis Energy Company Profile
Lilis Energy, Inc, an independent oil and natural gas company, engages in the acquisition, exploration, development, and production of conventional and unconventional oil and natural gas properties. Its total net acreage in the Permian Basin is approximately 19,000 acres. The company's oil and natural gas properties are located in the Delaware Basin in Winkler, Loving, and Reeves counties, Texas; and Lea County, New Mexico.
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