Imperial Capital Weighs in on Resolute Energy Corporation’s Q3 2017 Earnings (REN)
Resolute Energy Corporation (NYSE:REN) – Imperial Capital raised their Q3 2017 EPS estimates for Resolute Energy Corporation in a report issued on Wednesday. Imperial Capital analyst J. Wangler now anticipates that the oil and gas exploration company will post earnings per share of $0.10 for the quarter, up from their prior forecast of ($0.02). Imperial Capital has a “Outperform” rating and a $40.00 price objective on the stock. Imperial Capital also issued estimates for Resolute Energy Corporation’s FY2017 earnings at $0.39 EPS and FY2018 earnings at $2.77 EPS.
Resolute Energy Corporation (NYSE:REN) last released its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.25. The firm had revenue of $71.06 million during the quarter, compared to analysts’ expectations of $77.09 million. The company’s revenue for the quarter was up 100.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.44) EPS.
Other research analysts have also recently issued research reports about the company. Northland Securities set a $60.00 target price on Resolute Energy Corporation and gave the company a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets set a $38.00 price objective on Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. SunTrust Banks, Inc. began coverage on Resolute Energy Corporation in a research note on Thursday, June 1st. They issued a “buy” rating and a $55.00 price objective on the stock. BidaskClub raised Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) began coverage on Resolute Energy Corporation in a research note on Monday, July 17th. They issued a “neutral” rating and a $34.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Resolute Energy Corporation presently has an average rating of “Buy” and a consensus target price of $43.45.
Resolute Energy Corporation (NYSE:REN) opened at 28.21 on Friday. Resolute Energy Corporation has a 1-year low of $13.45 and a 1-year high of $49.14. The stock has a 50 day moving average price of $30.94 and a 200-day moving average price of $38.67. The stock’s market cap is $622.23 million.
A number of hedge funds have recently made changes to their positions in REN. Guggenheim Capital LLC bought a new stake in shares of Resolute Energy Corporation during the fourth quarter valued at about $464,000. Norges Bank bought a new stake in shares of Resolute Energy Corporation during the fourth quarter valued at about $2,416,000. Nationwide Fund Advisors bought a new stake in shares of Resolute Energy Corporation during the first quarter valued at about $432,000. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Resolute Energy Corporation during the first quarter valued at about $405,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Resolute Energy Corporation during the first quarter valued at about $292,000. 86.52% of the stock is currently owned by institutional investors and hedge funds.
In other Resolute Energy Corporation news, CEO Richard F. Betz sold 12,500 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $40.96, for a total transaction of $512,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Bob D. Brady, Jr. sold 10,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $42.56, for a total value of $425,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,750 shares of company stock worth $1,532,578 in the last ninety days. Insiders own 7.30% of the company’s stock.
About Resolute Energy Corporation
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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