Eclipse Resources (ECR) Falls on First Trading Day After IPO

NEW YORK (TheStreet) -- Eclipse Resources  (ECR) dipped Friday, the independent oil and gas exploration and production company's first day of trading after its IPO.

The State College, Pa.-based company priced its initial public offering of 30.3 million shares at $27 a share, the low end of the expected range of $27 to $30. The company offered 21.5 million shares, while selling stockholders offered 8.8 million shares. The selling stockholders included a 30-day option for underwriters to purchase up to an additional 4.545 million shares.

Eclipse expects the offering to close on June 25.

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The stock opened at $27 on Friday and hit a low of $26 as of $10.43 a.m., by which point more than 16.7 million shares had changed hands.

ECR Price Chart

ECR Price data by YCharts

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