Resolute Energy Corp (NYSE:REN) – Equities researchers at Seaport Global Securities raised their Q4 2017 earnings estimates for shares of Resolute Energy in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will post earnings per share of $0.78 for the quarter, up from their prior estimate of $0.67.
REN has been the topic of several other research reports. Goldman Sachs Group upgraded shares of Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, October 19th. They noted that the move was a valuation call. B. Riley started coverage on shares of Resolute Energy in a report on Monday. They issued a “neutral” rating and a $39.00 target price on the stock. Barclays restated a “buy” rating and issued a $36.00 target price on shares of Resolute Energy in a report on Sunday, December 24th. Northland Securities set a $50.00 target price on shares of Resolute Energy and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Zacks Investment Research upgraded shares of Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $44.22.
Resolute Energy (NYSE:REN) last announced its quarterly earnings data on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.21). The firm had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $86.76 million. During the same quarter in the prior year, the company earned ($1.24) EPS. The company’s revenue for the quarter was up 72.2% on a year-over-year basis.
A number of large investors have recently bought and sold shares of the business. Swiss National Bank increased its stake in Resolute Energy by 9.2% in the 4th quarter. Swiss National Bank now owns 31,000 shares of the oil and gas exploration company’s stock valued at $976,000 after buying an additional 2,600 shares during the last quarter. Boston Partners increased its stake in Resolute Energy by 52.3% in the 4th quarter. Boston Partners now owns 170,710 shares of the oil and gas exploration company’s stock valued at $5,372,000 after buying an additional 58,620 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Resolute Energy by 15.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 102,610 shares of the oil and gas exploration company’s stock valued at $3,230,000 after buying an additional 13,974 shares during the last quarter. Monarch Alternative Capital LP increased its stake in Resolute Energy by 33.3% in the 3rd quarter. Monarch Alternative Capital LP now owns 1,816,300 shares of the oil and gas exploration company’s stock valued at $53,926,000 after buying an additional 453,251 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Resolute Energy in the 3rd quarter valued at about $270,000.
In related news, insider Nicholas J. Sutton sold 9,999 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $27.29, for a total value of $272,872.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James E. Duffy sold 3,000 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $30.96, for a total transaction of $92,880.00. The disclosure for this sale can be found here. Insiders sold a total of 19,999 shares of company stock worth $559,458 in the last 90 days. 7.30% of the stock is currently owned by company insiders.
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Resolute Energy 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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