Lilis Energy Inc (NYSEAMERICAN:LLEX) – Stock analysts at B. Riley lifted their FY2018 earnings estimates for Lilis Energy in a note issued to investors on Tuesday, October 9th. B. Riley analyst R. Rashid now expects that the company will post earnings of ($0.29) per share for the year, up from their prior forecast of ($0.38). B. Riley also issued estimates for Lilis Energy’s Q4 2018 earnings at $0.05 EPS.
Lilis Energy (NYSEAMERICAN:LLEX) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.12). Lilis Energy had a negative return on equity of 419.18% and a negative net margin of 115.71%. The company had revenue of $17.48 million during the quarter, compared to the consensus estimate of $21.78 million.
Separately, Stifel Nicolaus cut their target price on shares of Lilis Energy from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 10th.
Shares of LLEX stock opened at $4.04 on Thursday. Lilis Energy has a 52 week low of $3.10 and a 52 week high of $6.30.
A number of large investors have recently modified their holdings of the business. Southpaw Asset Management LP lifted its holdings in Lilis Energy by 49.7% during the second quarter. Southpaw Asset Management LP now owns 3,135,207 shares of the company’s stock valued at $16,303,000 after purchasing an additional 1,040,893 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Lilis Energy by 38.3% in the second 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 in the last quarter. Millennium Management LLC lifted its holdings in shares of Lilis Energy by 4,700.1% in the second quarter. Millennium Management LLC now owns 1,631,751 shares of the company’s stock worth $8,485,000 after buying an additional 1,597,757 shares in the last quarter. Putnam Investments LLC purchased a new position in shares of Lilis Energy in the second quarter worth $1,263,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Lilis Energy by 42.2% in the second quarter. Victory Capital Management Inc. now owns 235,334 shares of the company’s stock worth $1,223,000 after buying an additional 69,800 shares in the last quarter.
In other Lilis Energy news, CFO Joseph C. Daches bought 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average cost of $4.01 per share, for a total transaction of $120,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ronald D. Ormand bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average price of $4.05 per share, with a total value of $101,250.00. Following the completion of the transaction, the chairman now directly owns 4,274,188 shares of the company’s stock, valued at approximately $17,310,461.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 65,000 shares of company stock valued at $269,850 and have sold 7,181,832 shares valued at $35,189,197.
About Lilis Energy
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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