Equities analysts forecast that Resolute Energy Corporation (NYSE:REN) will report $86.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Resolute Energy Corporation’s earnings, with the lowest sales estimate coming in at $84.50 million and the highest estimate coming in at $89.10 million. Resolute Energy Corporation reported sales of $47.42 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 83.2%. The firm is expected to report its next earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Resolute Energy Corporation will report full year sales of $86.88 million for the current year, with estimates ranging from $297.30 million to $327.00 million. For the next financial year, analysts expect that the company will post sales of $409.30 million per share, with estimates ranging from $312.40 million to $513.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Resolute Energy Corporation.
Resolute Energy Corporation (NYSE:REN) last issued its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS 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. Resolute Energy Corporation’s revenue for the quarter was up 100.8% on a year-over-year basis. During the same period last year, the business posted ($2.44) earnings per share.
A number of research analysts have recently commented on REN shares. Zacks Investment Research lowered Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. BidaskClub raised Resolute Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets lowered their price target on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a report on Monday, July 17th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Northland Securities set a $60.00 price target on Resolute Energy Corporation and gave the company a “buy” rating in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $48.23.
Resolute Energy Corporation (NYSE REN) opened at $30.36 on Monday. The company has a debt-to-equity ratio of -8.40, a quick ratio of 0.56 and a current ratio of 0.56. Resolute Energy Corporation has a fifty-two week low of $23.05 and a fifty-two week high of $49.14.
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In related news, Director James E. Duffy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total transaction of $76,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in Resolute Energy Corporation by 55.7% during the third quarter. Principal Financial Group Inc. now owns 252,209 shares of the oil and gas exploration company’s stock valued at $7,488,000 after buying an additional 90,186 shares in the last quarter. Boston Partners bought a new position in Resolute Energy Corporation during the third quarter valued at about $3,328,000. Parkwood LLC boosted its stake in Resolute Energy Corporation by 75.1% during the third quarter. Parkwood LLC now owns 30,791 shares of the oil and gas exploration company’s stock valued at $914,000 after buying an additional 13,210 shares in the last quarter. Northpointe Capital LLC boosted its stake in Resolute Energy Corporation by 2,915.7% during the third quarter. Northpointe Capital LLC now owns 153,799 shares of the oil and gas exploration company’s stock valued at $4,566,000 after buying an additional 148,699 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Resolute Energy Corporation during the third quarter valued at about $442,000. 94.16% of the stock is owned by institutional investors and hedge funds.
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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