Lilis Energy (LLEX) Downgraded by Williams Capital to “Hold”

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Williams Capital cut shares of Lilis Energy (NYSEAMERICAN:LLEX) from a buy rating to a hold rating in a research report released on Wednesday, October 17th, MarketBeat reports. The firm currently has $5.00 target price on the stock, down from their previous target price of $8.00.

Separately, Stifel Nicolaus began coverage on shares of Lilis Energy in a research note on Tuesday, July 31st. They issued a buy rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $7.33.

Shares of NYSEAMERICAN LLEX traded down $0.21 during trading on Wednesday, hitting $2.70. 572,669 shares of the company traded hands, compared to its average volume of 367,033. Lilis Energy has a fifty-two week low of $2.57 and a fifty-two week high of $6.30.

Lilis Energy (NYSEAMERICAN:LLEX) last posted its earnings results on Thursday, November 1st. The company reported ($0.09) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.09). The business had revenue of $19.48 million during the quarter, compared to analyst estimates of $22.17 million.

In related news, Director Mark Daniel Christensen sold 52,865 shares of the firm’s stock in a transaction that occurred on 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 directly owns 23,954 shares of the company’s stock, valued at approximately $129,591.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Oneenergy Partners Operating, sold 6,940,722 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $4.90, for a total transaction of $34,009,537.80. The disclosure for this sale can be found here. Over the last three months, insiders have bought 106,000 shares of company stock valued at $399,800 and have sold 7,181,832 shares valued at $35,189,197.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLEX. Millennium Management LLC lifted its stake in Lilis Energy by 4,700.1% in the 2nd quarter. Millennium Management LLC now owns 1,631,751 shares of the company’s stock worth $8,485,000 after purchasing an additional 1,597,757 shares in the last quarter. Southpaw Asset Management LP lifted its stake in 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 purchasing an additional 1,040,893 shares in the last quarter. BlackRock Inc. lifted its stake in 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 purchasing an additional 765,647 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Lilis Energy by 6,079.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,113 shares of the company’s stock worth $2,734,000 after purchasing an additional 549,081 shares in the last quarter. Finally, Mobius Capital Management LLC purchased a new stake in Lilis Energy in the 3rd quarter worth approximately $1,924,000.

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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