Q4 2017 Earnings Forecast for Resolute Energy Corporation (REN) Issued By Seaport Global Securities
Resolute Energy Corporation (NYSE:REN) – Research analysts at Seaport Global Securities boosted their Q4 2017 earnings estimates for Resolute Energy in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will post earnings per share of $0.67 for the quarter, up from their prior forecast of $0.50. Seaport Global Securities also issued estimates for Resolute Energy’s Q1 2018 earnings at $0.94 EPS, Q2 2018 earnings at $1.04 EPS, Q3 2018 earnings at $1.46 EPS, Q4 2018 earnings at $1.85 EPS and FY2018 earnings at $5.29 EPS.
A number of other research firms have also recently commented on REN. SunTrust Banks restated a “buy” rating on shares of Resolute Energy in a research report on Friday, November 10th. BMO Capital Markets cut shares of Resolute Energy from an “outperform” rating to a “market perform” rating and set a $35.00 price objective for the company. in a research report on Monday, September 18th. They noted that the move was a valuation call. Imperial Capital reiterated a “buy” rating and set a $50.00 target price on shares of Resolute Energy in a report on Monday, September 18th. Goldman Sachs Group set a $37.00 target price on Resolute Energy and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, Barclays reiterated an “overweight” rating and set a $37.00 target price on shares of Resolute Energy in a report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Resolute Energy has an average rating of “Hold” and a consensus target price of $45.43.
Resolute Energy (NYSE:REN) last released its quarterly earnings data on Monday, November 6th. The oil and gas exploration company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). The company had revenue of $81.60 million for the quarter, compared to analyst estimates of $86.76 million. During the same period in the prior year, the company posted ($1.24) EPS. The firm’s quarterly revenue was up 72.2% compared to the same quarter last year.
In other news, insider Nicholas J. Sutton sold 9,999 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $27.29, for a total transaction of $272,872.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Duffy sold 2,500 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total transaction of $76,100.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,499 shares of company stock valued at $542,678. Corporate insiders own 7.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Resolute Energy by 799.4% during the 1st quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 4,269 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Resolute Energy during the 2nd quarter worth about $168,000. Parametric Portfolio Associates LLC boosted its stake in shares of Resolute Energy by 6.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock worth $223,000 after buying an additional 470 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Resolute Energy during the 3rd quarter worth about $233,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Resolute Energy by 63.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 8,800 shares of the oil and gas exploration company’s stock worth $262,000 after buying an additional 3,400 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.
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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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