Northland Securities Reaffirms Their Buy Rating on Lonestar Resources US (LONE)


In a report released today, Jeff Grampp from Northland Securities maintained a Buy rating on Lonestar Resources US (LONE), with a price target of $6. The company’s shares closed on Friday at $2.26, close to its 52-week low of $1.93.

Grampp wrote:

“We are encouraged with the update, which helps keep it on track for transitioning to a FCF neutral development program later this year. We are updating estimates to reflect the 2Q19 production outperformance and an updated hedge position that was disclosed in mid-June that modestly increases estimated hedging losses given our oil price estimates above recent strip prices. We are leaving our 2H19 and 2020 production estimates essentially unchanged but note likely upside given the 2Q19 update.”

According to TipRanks.com, Grampp has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.8% and a 28.1% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Penn Virginia Corporation, Sundance Energy Australia, and SilverBow Resources Inc.

Currently, the analyst consensus on Lonestar Resources US is a Moderate Buy with an average price target of $6.88.

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The company has a one-year high of $11.24 and a one-year low of $1.93. Currently, Lonestar Resources US has an average volume of 172.9K.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LONE in relation to earlier this year.

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Lonestar Resources US, Inc. is engaged in the acquisition, development, and production of unconventional oil and natural gas properties. Its portfolio includes the Eagle Ford Shale. The company was founded by Charles William Stocker on December 2015 and is headquartered in Fort Worth, TX.

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