Resolute Energy Corporation (NYSE:REN) – Investment analysts at Imperial Capital upped their Q3 2017 earnings per share estimates for shares of Resolute Energy Corporation in a research report issued to clients and investors on Wednesday. Imperial Capital analyst J. Wangler now expects that the oil and gas exploration company will post earnings of $0.10 per share for the quarter, up from their prior forecast of ($0.02). Imperial Capital currently has a “Outperform” rating and a $40.00 price target on the stock. Imperial Capital also issued estimates for Resolute Energy Corporation’s FY2017 earnings at $0.39 EPS and FY2018 earnings at $2.77 EPS.
Resolute Energy Corporation (NYSE:REN) last released its quarterly earnings data on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.25. The firm had revenue of $71.06 million during the quarter, compared to analysts’ expectations of $77.09 million. The business’s revenue for the quarter was up 100.8% compared to the same quarter last year. During the same quarter last year, the business earned ($2.44) earnings per share.
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REN has been the subject of a number of other research reports. Northland Securities set a $60.00 price target on Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. SunTrust Banks, Inc. initiated coverage on Resolute Energy Corporation in a research note on Thursday, June 1st. They issued a “buy” rating and a $55.00 price objective on the stock. BidaskClub lowered Resolute Energy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research lowered Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Resolute Energy Corporation in a research note on Monday, July 17th. They issued a “neutral” rating and a $34.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $43.45.
Resolute Energy Corporation (REN) opened at 28.01 on Friday. Resolute Energy Corporation has a 12-month low of $14.00 and a 12-month high of $49.14. The stock has a 50 day moving average price of $30.95 and a 200-day moving average price of $38.56. The stock’s market capitalization is $617.82 million.
In related news, SVP Bob D. Brady, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.56, for a total transaction of $425,600.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard F. Betz sold 12,500 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $40.96, for a total value of $512,000.00. The disclosure for this sale can be found here. Insiders have sold 37,750 shares of company stock worth $1,532,578 over the last 90 days. Corporate insiders own 7.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of REN. Wells Fargo & Company MN raised its position in shares of Resolute Energy Corporation by 2.6% in the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock valued at $124,000 after buying an additional 79 shares in the last quarter. Northpointe Capital LLC purchased a new position in shares of Resolute Energy Corporation during the second quarter valued at about $152,000. Legal & General Group Plc purchased a new position in shares of Resolute Energy Corporation during the second quarter valued at about $168,000. Bank of America Corp DE raised its position in shares of Resolute Energy Corporation by 799.4% in the first quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock valued at $194,000 after buying an additional 4,269 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Resolute Energy Corporation during the first quarter valued at about $218,000. Hedge funds and other institutional investors own 86.52% of the company’s stock.
Resolute Energy Corporation Company Profile
Resolute Energy Corporation is an independent oil and gas company. The Company is engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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