Lilis Energy Inc (NYSEAMERICAN:LLEX) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 4,627,986 shares, an increase of 2.1% from the August 15th total of 4,533,756 shares. Based on an average daily volume of 418,932 shares, the short-interest ratio is presently 11.0 days. Currently, 12.7% of the company’s stock are short sold.
In other Lilis Energy news, major shareholder Oneenergy Partners Operating, sold 6,940,722 shares of the stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $4.90, for a total value of $34,009,537.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Daniel Christensen sold 52,865 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $5.41, for a total transaction of $285,999.65. Following the completion of the sale, the director now owns 23,954 shares of the company’s stock, valued at approximately $129,591.14. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 65,000 shares of company stock valued at $269,850.
Several institutional investors have recently made changes to their positions in the stock. Putnam Investments LLC bought a new stake in shares of Lilis Energy during the 2nd quarter valued at approximately $1,263,000. Millennium Management LLC grew its holdings in shares of Lilis Energy by 4,700.1% during the 2nd quarter. Millennium Management LLC now owns 1,631,751 shares of the company’s stock valued at $8,485,000 after purchasing an additional 1,597,757 shares during the last quarter. Southpaw Asset Management LP grew its holdings in shares of Lilis Energy by 49.7% during the 2nd quarter. Southpaw Asset Management LP now owns 3,135,207 shares of the company’s stock valued at $16,303,000 after purchasing an additional 1,040,893 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Lilis Energy by 38.3% during the 2nd quarter. BlackRock Inc. now owns 2,762,139 shares of the company’s stock valued at $14,363,000 after purchasing an additional 765,647 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Lilis Energy by 19.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,300 shares of the company’s stock valued at $444,000 after purchasing an additional 13,600 shares during the last quarter.
LLEX stock traded down $0.12 during mid-day trading on Friday, hitting $4.57. The stock had a trading volume of 429,086 shares, compared to its average volume of 328,187. Lilis Energy has a 52 week low of $3.10 and a 52 week high of $6.30.
Lilis Energy (NYSEAMERICAN:LLEX) last released its earnings results on Thursday, August 9th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.12). Lilis Energy had a negative net margin of 115.71% and a negative return on equity of 419.18%. The firm had revenue of $17.48 million during the quarter, compared to the consensus estimate of $21.78 million.
Several analysts have weighed in on LLEX shares. Stifel Nicolaus started coverage on shares of Lilis Energy in a research note on Tuesday, July 31st. They issued a “buy” rating for the company. B. Riley lifted their price objective on shares of Lilis Energy from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Monday, June 11th.
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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