In a report released today, Jeff Grampp from Northland Securities maintained a Hold rating on Lilis Energy (LLEX), with a price target of $0.75. The company’s shares closed yesterday at $0.32, close to its 52-week low of $0.28.
“We stay on the sidelines with LLEX with our Market Perform rating and $0.75 PT. Results: LLEX reported 2Q19 Adjusted EBITDA of $11.4MM (When excluding $4.6MM of non-recurring expenses) higher than consensus of $8.8MM and our estimate of $7.4MM.”
According to TipRanks.com, Grampp has 0 stars on 0-5 star ranking scale with an average return of -16.0% and a 21.6% 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 Lilis Energy is a Hold with an average price target of $0.88.
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Based on Lilis Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $22.69 million. In comparison, last year the company had a GAAP net loss of $31.21 million.
Based on the recent corporate insider activity of 21 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 LLEX in relation to earlier this year.
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Lilis Energy, Inc. is an independent oil and gas company, which engages in the exploration, development, production, and acquisition of oil, natural gas, and natural gas liquids. It operations focuses on the Delaware Basin of the Permian in Winkler, Loving and Reeves Counties, Texas and Lea County, and New Mexico.