Capital One Financial Weighs in on Resolute Energy Corp’s Q3 2018 Earnings (REN)
Resolute Energy Corp (NYSE:REN) – Analysts at Capital One Financial dropped their Q3 2018 earnings estimates for Resolute Energy in a research report issued on Wednesday, October 17th. Capital One Financial analyst R. Tullis now anticipates that the oil and gas exploration company will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.59. Capital One Financial also issued estimates for Resolute Energy’s Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $1.06 EPS and FY2019 earnings at $5.69 EPS.
Resolute Energy (NYSE:REN) last released its earnings results on Monday, August 6th. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.26). Resolute Energy had a negative net margin of 10.99% and a negative return on equity of 16.12%. The company had revenue of $73.38 million during the quarter, compared to analyst estimates of $76.24 million. During the same period in the previous year, the company posted $0.47 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year.
NYSE:REN opened at $29.88 on Friday. Resolute Energy has a 1-year low of $25.46 and a 1-year high of $39.28. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of -8.08. The stock has a market capitalization of $691.06 million, a price-to-earnings ratio of 498.17 and a beta of 3.36.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fondren Management LP acquired a new stake in shares of Resolute Energy during the second quarter worth about $624,000. Northern Trust Corp raised its position in shares of Resolute Energy by 2.6% during the second quarter. Northern Trust Corp now owns 255,565 shares of the oil and gas exploration company’s stock worth $7,974,000 after purchasing an additional 6,411 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Resolute Energy by 25.4% during the second quarter. Public Employees Retirement System of Ohio now owns 63,749 shares of the oil and gas exploration company’s stock worth $1,989,000 after purchasing an additional 12,904 shares during the period. Monarch Alternative Capital LP raised its position in shares of Resolute Energy by 3.4% during the second quarter. Monarch Alternative Capital LP now owns 2,268,400 shares of the oil and gas exploration company’s stock worth $70,774,000 after purchasing an additional 75,000 shares during the period. Finally, Silver Point Capital L.P. acquired a new stake in shares of Resolute Energy during the second quarter worth about $12,074,000.
In other news, Director James E. Duffy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $32.35, for a total transaction of $32,350.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 2,328 shares of company stock worth $73,015. 11.20% of the stock is currently owned by insiders.
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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