Analysts expect Lilis Energy Inc (NASDAQ:LLEX) to post sales of $8.03 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lilis Energy’s earnings, with the highest sales estimate coming in at $9.00 million and the lowest estimate coming in at $7.40 million. Lilis Energy posted sales of $1.22 million during the same quarter last year, which suggests a positive year over year growth rate of 558.2%. The company is expected to announce its next earnings results on Monday, November 13th.
On average, analysts expect that Lilis Energy will report full-year sales of $8.03 million for the current year, with estimates ranging from $27.10 million to $28.00 million. For the next fiscal year, analysts expect that the firm will post sales of $98.03 million per share, with estimates ranging from $86.80 million to $110.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Lilis Energy.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded Lilis Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Capital One Financial Corporation assumed coverage on Lilis Energy in a research note on Thursday, October 5th. They set an “overweight” rating and a $7.00 price objective on the stock. Seaport Global Securities restated a “buy” rating and set a $8.00 price objective (up previously from $6.75) on shares of Lilis Energy in a research note on Wednesday, October 4th. Stephens assumed coverage on Lilis Energy in a research note on Friday, September 29th. They set an “overweight” rating and a $6.00 price objective on the stock. Finally, Williams Capital initiated coverage on Lilis Energy in a research note on Tuesday, September 26th. They set a “buy” rating and a $7.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.71.
In other news, major shareholder Fund Vertex sold 10,720 shares of Lilis Energy stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $5.01, for a total value of $53,707.20. Following the transaction, the insider now owns 6,962,640 shares in the company, valued at approximately $34,882,826.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. acquired a new stake in shares of Lilis Energy during the 2nd quarter valued at $352,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Lilis Energy during the 2nd quarter valued at $3,384,000. Bank of New York Mellon Corp acquired a new stake in shares of Lilis Energy during the 2nd quarter valued at $503,000. National Asset Management Inc. boosted its holdings in shares of Lilis Energy by 22.7% during the 2nd quarter. National Asset Management Inc. now owns 21,600 shares of the company’s stock valued at $106,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of Lilis Energy during the 2nd quarter valued at $230,000.
Lilis Energy (NASDAQ LLEX) traded up $0.01 during trading on Friday, reaching $4.93. The company’s stock had a trading volume of 67,709 shares, compared to its average volume of 172,108. Lilis Energy has a 12-month low of $2.10 and a 12-month high of $5.69.
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About Lilis Energy
Lilis Energy, Inc is an upstream independent oil and gas company. The Company is engaged in the acquisition, drilling and production of oil and natural gas properties and prospects. The Company drills for, operates and produces oil and natural gas wells through its land holdings located in Wyoming, Colorado, and Nebraska.
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