BlackRock Inc. grew its position in shares of Lilis Energy Inc (NYSEAMERICAN:LLEX) by 38.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,762,139 shares of the company’s stock after acquiring an additional 765,647 shares during the quarter. BlackRock Inc. owned about 4.57% of Lilis Energy worth $14,363,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in Lilis Energy by 19.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 85,300 shares of the company’s stock worth $444,000 after purchasing an additional 13,600 shares during the period. EAM Investors LLC purchased a new stake in Lilis Energy in the second quarter worth $630,000. Victory Capital Management Inc. increased its stake in 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 purchasing an additional 69,800 shares during the period. Perella Weinberg Partners Capital Management LP purchased a new stake in Lilis Energy in the second quarter worth $590,000. Finally, Millennium Management LLC purchased a new stake in Lilis Energy in the first quarter worth $135,000.
In other Lilis Energy news, major shareholder Oneenergy Partners Operating, sold 6,940,722 shares of Lilis Energy stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $4.90, for a total value of $34,009,537.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Daniel Christensen sold 52,865 shares of Lilis Energy stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $5.41, for a total value of $285,999.65. Following the completion of the transaction, the director now owns 23,954 shares in the company, valued at approximately $129,591.14. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 51,000 shares of company stock worth $151,550 and have sold 7,181,832 shares worth $35,189,197.
Shares of Lilis Energy stock traded up $0.07 during trading on Thursday, hitting $2.37. 353,184 shares of the stock traded hands, compared to its average volume of 373,224. Lilis Energy Inc has a 52-week low of $2.14 and a 52-week high of $6.30.
Lilis Energy (NYSEAMERICAN:LLEX) last announced its quarterly earnings results on Thursday, November 1st. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $19.48 million for the quarter, compared to analysts’ expectations of $22.17 million.
A number of analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Lilis Energy in a research note on Tuesday, July 31st. They issued a “buy” rating on the stock. Williams Capital lowered Lilis Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $8.00 to $5.00 in a research note on Wednesday, October 17th. Finally, Ifs Securities assumed coverage on Lilis Energy in a research note on Monday, October 29th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $7.33.
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Lilis Energy 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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