Resolute Energy Corporation (REN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Resolute Energy Corporation (NYSE:REN) have earned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $42.97.

REN has been the topic of a number of research analyst reports. Goldman Sachs Group upgraded Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, October 19th. They noted that the move was a valuation call. KLR Group reiterated a “buy” rating and set a $64.00 target price (up from $60.00) on shares of Resolute Energy in a research report on Friday, September 15th. ValuEngine downgraded Resolute Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, September 6th. Northland Securities set a $50.00 target price on Resolute Energy and gave the stock a “buy” rating in a research report on Thursday, November 16th. Finally, Barclays reiterated an “overweight” rating and set a $37.00 target price on shares of Resolute Energy in a research report on Monday, November 20th.

In other Resolute Energy news, Director James E. Duffy sold 1,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $27.69, for a total transaction of $27,690.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Duffy sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total value of $76,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,000 shares of company stock worth $229,845. 7.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Monarch Alternative Capital LP raised its holdings in shares of Resolute Energy by 33.3% in the third quarter. Monarch Alternative Capital LP now owns 1,816,300 shares of the oil and gas exploration company’s stock worth $53,926,000 after acquiring an additional 453,251 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Resolute Energy in the third quarter worth $270,000. Westfield Capital Management Co. LP acquired a new position in shares of Resolute Energy in the third quarter worth $9,130,000. Dimensional Fund Advisors LP acquired a new position in shares of Resolute Energy in the third quarter worth $2,640,000. Finally, Brown Advisory Inc. acquired a new position in shares of Resolute Energy in the third quarter worth $233,000. 97.83% of the stock is owned by institutional investors.

Resolute Energy (REN) traded up $0.21 during trading on Monday, hitting $27.57. The company had a trading volume of 771,656 shares, compared to its average volume of 734,674. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of -8.75. Resolute Energy has a 12-month low of $23.64 and a 12-month high of $49.14.

Resolute Energy (NYSE:REN) last posted its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). The company had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $86.76 million. During the same quarter in the previous year, the business posted ($1.24) EPS. Resolute Energy’s quarterly revenue was up 72.2% on a year-over-year basis. equities analysts anticipate that Resolute Energy will post 0.6 earnings per share for the current fiscal year.

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About Resolute Energy

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).

Analyst Recommendations for Resolute Energy (NYSE:REN)

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