Q1 2018 Earnings Estimate for Resolute Energy Corp Issued By Seaport Global Securities (REN)
Resolute Energy Corp (NYSE:REN) – Analysts at Seaport Global Securities decreased their Q1 2018 earnings per share (EPS) estimates for Resolute Energy in a research report issued on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will post earnings of $0.38 per share for the quarter, down from their previous estimate of $0.90. Seaport Global Securities also issued estimates for Resolute Energy’s Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $1.42 EPS, Q4 2018 earnings at $1.82 EPS and FY2018 earnings at $4.22 EPS.
A number of other research firms also recently issued reports on REN. Goldman Sachs Group set a $37.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a research note on Wednesday, December 6th. ValuEngine downgraded shares of Resolute Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, January 16th. SunTrust Banks restated a “buy” rating on shares of Resolute Energy in a research note on Friday, November 10th. Finally, Barclays restated a “buy” rating and issued a $36.00 target price on shares of Resolute Energy in a research note on Sunday, December 24th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Resolute Energy presently has a consensus rating of “Hold” and an average price target of $43.89.
A number of institutional investors and hedge funds have recently made changes to their positions in REN. Lion Point Capital LP acquired a new stake in Resolute Energy in the fourth quarter valued at approximately $30,683,000. Vanguard Group Inc. raised its holdings in shares of Resolute Energy by 46.2% in the second quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock worth $44,518,000 after buying an additional 472,759 shares during the last quarter. Monarch Alternative Capital LP raised its holdings in shares of Resolute Energy by 33.3% in the third quarter. Monarch Alternative Capital LP now owns 1,816,300 shares of the oil and gas exploration company’s stock worth $53,926,000 after buying an additional 453,251 shares during the last quarter. Penn Capital Management Co. Inc. raised its holdings in shares of Resolute Energy by 362.9% in the fourth quarter. Penn Capital Management Co. Inc. now owns 504,679 shares of the oil and gas exploration company’s stock worth $15,898,000 after buying an additional 395,659 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Resolute Energy in the third quarter worth $9,130,000.
In other Resolute Energy news, Director James E. Duffy sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $28.04, for a total value of $56,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Duffy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $26.64, for a total transaction of $39,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,499 shares of company stock valued at $489,483. 7.30% of the stock is owned by 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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