Analysts Set Resolute Energy Corp (REN) Price Target at $38.29

Resolute Energy Corp (NYSE:REN) has earned an average rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $37.57.

Several research analysts have issued reports on REN shares. SunTrust Banks set a $36.00 price target on Resolute Energy and gave the company a “hold” rating in a report on Tuesday, November 27th. Seaport Global Securities reaffirmed a “hold” rating and issued a $35.00 price target on shares of Resolute Energy in a report on Wednesday, November 7th. ValuEngine raised Resolute Energy from a “sell” rating to a “hold” rating in a report on Friday, November 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $33.00 price target on shares of Resolute Energy in a report on Tuesday, November 13th. Finally, Zacks Investment Research cut Resolute Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 14th.

In other Resolute Energy news, Director James E. Duffy sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $32.35, for a total transaction of $32,350.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kemc Fund Iv Gp, Llc bought 295,845 shares of the business’s stock in a transaction on Tuesday, October 30th. The shares were purchased at an average cost of $25.95 per share, for a total transaction of $7,677,177.75. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 803,690 shares of company stock worth $21,467,342 and have sold 31,922 shares worth $1,107,406. 11.20% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in REN. Silver Point Capital L.P. acquired a new stake in Resolute Energy during the 2nd quarter valued at $12,074,000. Precocity Capital LP acquired a new stake in Resolute Energy during the 2nd quarter valued at $10,296,000. Richard Bernstein Advisors LLC acquired a new stake in Resolute Energy during the 2nd quarter valued at $5,731,000. Capital Fund Management S.A. raised its stake in Resolute Energy by 1,465.4% during the 2nd quarter. Capital Fund Management S.A. now owns 103,708 shares of the oil and gas exploration company’s stock valued at $3,236,000 after purchasing an additional 97,083 shares during the period. Finally, BlackRock Inc. raised its stake in Resolute Energy by 5.7% during the 2nd quarter. BlackRock Inc. now owns 1,471,841 shares of the oil and gas exploration company’s stock valued at $45,922,000 after purchasing an additional 78,785 shares during the period. 96.25% of the stock is currently owned by institutional investors.

Shares of NYSE REN traded up $0.19 during trading on Monday, hitting $35.75. The company had a trading volume of 529,472 shares, compared to its average volume of 582,592. The stock has a market capitalization of $823.71 million, a P/E ratio of 595.83 and a beta of 3.56. Resolute Energy has a 52 week low of $24.60 and a 52 week high of $39.28.

Resolute Energy (NYSE:REN) last posted its quarterly earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.23). The company had revenue of $106.75 million during the quarter, compared to the consensus estimate of $104.54 million. Resolute Energy had a negative net margin of 10.10% and a negative return on equity of 22.38%. On average, sell-side analysts predict that Resolute Energy will post 1.66 earnings per share for the current year.

About Resolute Energy

Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. Its principal project area is located in the Delaware Basin portion of the Permian Basin, Reeves County. As of December 31, 2017, it had interests in approximately 27,100 gross acres located in the Permian Basin of Texas; and its estimated net proved reserves were approximately 53.4 million barrels of oil equivalent.

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Analyst Recommendations for Resolute Energy (NYSE:REN)

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