Resolute Energy Corporation (NYSE:REN) received a $35.00 target price from investment analysts at BMO Capital Markets in a note issued to investors on Wednesday, August 16th. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. BMO Capital Markets’ target price suggests a potential upside of 31.38% from the company’s previous close.
Several other brokerages have also commented on REN. Northland Securities set a $60.00 target price 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 report on Thursday, June 1st. They issued a “buy” rating and a $55.00 target price for the company. Zacks Investment Research raised Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub downgraded Resolute Energy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, Imperial Capital initiated coverage on Resolute Energy Corporation in a report on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Resolute Energy Corporation presently has an average rating of “Buy” and an average price target of $43.45.
Shares of Resolute Energy Corporation (REN) traded down 10.09% during trading on Wednesday, hitting $26.64. The stock had a trading volume of 1,162,608 shares. The company’s market cap is $587.60 million. Resolute Energy Corporation has a one year low of $17.86 and a one year high of $49.14. The stock’s 50-day moving average price is $30.34 and its 200-day moving average price is $36.63.
Resolute Energy Corporation (NYSE:REN) last issued its quarterly earnings data on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The business had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. During the same quarter last year, the business earned ($2.44) EPS. Resolute Energy Corporation’s revenue for the quarter was up 100.8% compared to the same quarter last year. On average, equities research analysts forecast that Resolute Energy Corporation will post $0.90 EPS for the current fiscal year.
In other Resolute Energy Corporation news, Director James E. Duffy sold 1,250 shares of Resolute Energy Corporation stock in a transaction on Monday, June 26th. The stock was sold at an average price of $29.91, for a total transaction of $37,387.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Duffy sold 3,000 shares of Resolute Energy Corporation stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $30.69, for a total value of $92,070.00. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Phocas Financial Corp. increased its position in shares of Resolute Energy Corporation by 4.7% during the 2nd quarter. Phocas Financial Corp. now owns 123,675 shares of the oil and gas exploration company’s stock valued at $3,682,000 after purchasing an additional 5,521 shares during the period. Mesirow Financial Investment Management Inc. acquired a new position in shares of Resolute Energy Corporation during the 2nd quarter valued at $367,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Resolute Energy Corporation during the 2nd quarter valued at $285,000. Westwood Holdings Group Inc. increased its position in shares of Resolute Energy Corporation by 77.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 667,290 shares of the oil and gas exploration company’s stock valued at $19,865,000 after purchasing an additional 291,195 shares during the period. Finally, California State Teachers Retirement System acquired a new position in shares of Resolute Energy Corporation during the 2nd quarter valued at $1,146,000. Institutional investors own 93.81% 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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