Resolute Energy Corporation (REN) Issues Earnings Results
Resolute Energy Corporation (NYSE:REN) issued its earnings results on Monday. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.32), reports. The firm had revenue of $81.60 million during the quarter, compared to analyst estimates of $86.76 million. The company’s quarterly revenue was up 72.2% on a year-over-year basis. During the same period last year, the business posted ($1.24) earnings per share.
Resolute Energy Corporation (REN) opened at $32.22 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of -8.40. Resolute Energy Corporation has a 52-week low of $23.05 and a 52-week high of $49.14.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, July 14th. Imperial Capital reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Resolute Energy Corporation in a research note on Monday, September 18th. Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a research note on Monday, July 17th. They issued a “neutral” rating and a $34.00 price objective for the company. Zacks Investment Research downgraded Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, BidaskClub raised Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.23.
In other news, Director James E. Duffy sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total transaction of $76,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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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