Fondren Management LP Takes $624,000 Position in Resolute Energy Corp (REN)
Fondren Management LP bought a new position in shares of Resolute Energy Corp (NYSE:REN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the oil and gas exploration company’s stock, valued at approximately $624,000. Fondren Management LP owned approximately 0.09% of Resolute Energy as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Monarch Alternative Capital LP lifted its holdings 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 buying an additional 75,000 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Resolute Energy by 5.7% during the second quarter. BlackRock Inc. now owns 1,471,841 shares of the oil and gas exploration company’s stock worth $45,922,000 after buying an additional 78,785 shares in the last quarter. Cardinal Capital Management LLC CT lifted its holdings in shares of Resolute Energy by 69.0% during the first quarter. Cardinal Capital Management LLC CT now owns 1,074,687 shares of the oil and gas exploration company’s stock worth $37,238,000 after buying an additional 438,649 shares in the last quarter. VR Advisory Services Ltd lifted its holdings in shares of Resolute Energy by 68.6% during the first quarter. VR Advisory Services Ltd now owns 983,000 shares of the oil and gas exploration company’s stock worth $34,061,000 after buying an additional 400,000 shares in the last quarter. Finally, Carmignac Gestion acquired a new stake in shares of Resolute Energy during the first quarter worth $18,711,000.
Separately, ValuEngine raised Resolute Energy from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Resolute Energy has a consensus rating of “Hold” and a consensus price target of $39.14.
REN stock opened at $35.92 on Friday. The stock has a market capitalization of $815.00 million, a P/E ratio of 584.17 and a beta of 3.35. Resolute Energy Corp has a 52 week low of $25.46 and a 52 week high of $38.64. The company has a debt-to-equity ratio of -8.08, a current ratio of 0.35 and a quick ratio of 0.35.
Resolute Energy (NYSE:REN) last posted its quarterly earnings results on Monday, August 6th. The oil and gas exploration company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.26). The company had revenue of $73.38 million during the quarter, compared to analyst estimates of $76.24 million. Resolute Energy had a negative net margin of 10.99% and a negative return on equity of 16.12%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. sell-side analysts predict that Resolute Energy Corp will post 2.19 earnings per share for the current fiscal year.
Resolute Energy Company Profile
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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