Resolute Energy Corporation (NYSE:REN) had its price target reduced by BMO Capital Markets from $38.00 to $35.00 in a research report report published on Friday, July 14th. They currently have an outperform rating on the oil and gas exploration company’s stock.
Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Resolute Energy Corporation from a sell rating to a hold rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Resolute Energy Corporation from a hold rating to a strong sell rating in a research report on Wednesday, July 12th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Resolute Energy Corporation in a research report on Thursday, June 1st. They set a buy rating and a $55.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Resolute Energy Corporation presently has a consensus rating of Buy and a consensus price target of $43.45.
Shares of Resolute Energy Corporation (REN) opened at 28.01 on Friday. The stock’s market cap is $617.82 million. Resolute Energy Corporation has a 52 week low of $14.00 and a 52 week high of $49.14. The firm has a 50-day moving average of $30.95 and a 200 day moving average of $38.56.
Resolute Energy Corporation (NYSE:REN) last posted its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million during the quarter, compared to analysts’ expectations of $77.09 million. During the same quarter in the previous year, the business posted ($2.44) EPS. The company’s quarterly revenue was up 100.8% on a year-over-year basis. On average, equities analysts forecast that Resolute Energy Corporation will post $1.00 EPS for the current fiscal year.
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In related news, CEO Richard F. Betz sold 12,500 shares of Resolute Energy Corporation stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $40.96, for a total value of $512,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James E. Duffy sold 1,250 shares of Resolute Energy Corporation stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $29.91, for a total value of $37,387.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,750 shares of company stock worth $1,532,578. Company insiders own 7.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted 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 worth $124,000 after buying an additional 79 shares in the last quarter. Bank of America Corp DE boosted its position in 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 during the period. Tudor Investment Corp Et Al acquired a new position in Resolute Energy Corporation during the fourth quarter valued at $206,000. Northpointe Capital LLC acquired a new position in Resolute Energy Corporation during the second quarter valued at $152,000. Finally, UBS Asset Management Americas Inc. acquired a new position in Resolute Energy Corporation during the first quarter valued at $218,000. 86.52% of the stock is currently owned by hedge funds and other institutional investors.
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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