Resolute Energy Corporation (REN) Given a $35.00 Price Target at BMO Capital Markets

Resolute Energy Corporation (NYSE:REN) received a $35.00 price objective from research analysts at BMO Capital Markets in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 30.89% from the company’s current price.

A number of other equities research analysts also recently weighed in on REN. SunTrust Banks, Inc. started coverage on Resolute Energy Corporation in a report on Thursday, June 1st. They issued a “buy” rating and a $55.00 target price for the company. Zacks Investment Research downgraded Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. BidaskClub upgraded Resolute Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a report on Monday, July 17th. They issued a “neutral” rating and a $34.00 target price for the company. Finally, Northland Securities set a $60.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $43.45.

Resolute Energy Corporation (REN) opened at 26.74 on Wednesday. The firm’s market capitalization is $589.80 million. Resolute Energy Corporation has a 52-week low of $15.70 and a 52-week high of $49.14. The stock’s 50 day moving average price is $30.74 and its 200 day moving average price is $38.01.

Resolute Energy Corporation (NYSE:REN) last issued its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. The company’s revenue for the quarter was up 100.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($2.44) earnings per share. On average, equities analysts anticipate that Resolute Energy Corporation will post $0.71 earnings per share for the current fiscal year.

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In other Resolute Energy Corporation news, Director James E. Duffy sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $29.91, for a total value of $37,387.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bob D. Brady, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $42.56, for a total value of $425,600.00. The disclosure for this sale can be found here. Insiders sold 25,250 shares of company stock valued at $1,020,578 in the last three months. Insiders own 7.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Resolute Energy Corporation by 68.9% in the first quarter. Wellington Management Group LLP now owns 3,097,194 shares of the oil and gas exploration company’s stock valued at $125,127,000 after buying an additional 1,263,959 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Resolute Energy Corporation by 32.0% in the second quarter. Franklin Resources Inc. now owns 1,719,287 shares of the oil and gas exploration company’s stock valued at $51,182,000 after buying an additional 416,802 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Resolute Energy Corporation by 46.2% in the second quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock valued at $44,518,000 after buying an additional 472,759 shares during the last quarter. State Street Corp boosted its position in shares of Resolute Energy Corporation by 8.0% in the second quarter. State Street Corp now owns 1,088,191 shares of the oil and gas exploration company’s stock valued at $32,396,000 after buying an additional 80,369 shares during the last quarter. Finally, Caymus Capital Partners L.P. boosted its position in shares of Resolute Energy Corporation by 82.2% in the second quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock valued at $22,235,000 after buying an additional 336,900 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

About Resolute Energy Corporation

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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