Resolute Energy Corporation (REN) Raised to Buy at Goldman Sachs Group, Inc. (The)
Resolute Energy Corporation (NYSE:REN) was upgraded by investment analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a report released on Thursday. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on REN. Imperial Capital restated a “buy” rating and issued a $50.00 price objective on shares of Resolute Energy Corporation in a report on Monday, September 18th. BMO Capital Markets decreased their price objective on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, July 14th. Zacks Investment Research upgraded Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a report on Saturday, August 12th. Northland Securities set a $60.00 price objective on Resolute Energy Corporation and gave the company a “buy” rating in a report on Monday, July 17th. Finally, BidaskClub upgraded Resolute Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $48.48.
Resolute Energy Corporation (NYSE:REN) traded down 1.73% during mid-day trading on Thursday, reaching $28.99. The company had a trading volume of 454,938 shares. The firm’s 50-day moving average price is $28.84 and its 200-day moving average price is $33.56. Resolute Energy Corporation has a 12 month low of $22.27 and a 12 month high of $49.14. The stock’s market cap is $639.43 million.
Resolute Energy Corporation (NYSE:REN) last announced its quarterly earnings data on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. Resolute Energy Corporation’s revenue was up 100.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.44) EPS. Equities research analysts forecast that Resolute Energy Corporation will post $1.13 EPS for the current fiscal year.
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In related news, Director James E. Duffy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total value of $76,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.30% of the company’s stock.
A number of large investors have recently modified their holdings of REN. Vanguard Group Inc. lifted its stake in Resolute Energy Corporation by 46.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock valued at $44,518,000 after purchasing an additional 472,759 shares during the last quarter. Franklin Resources Inc. lifted its stake in Resolute Energy Corporation by 32.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,719,287 shares of the oil and gas exploration company’s stock valued at $51,182,000 after purchasing an additional 416,802 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in Resolute Energy Corporation in the 1st quarter valued at about $15,194,000. Caymus Capital Partners L.P. lifted its stake in Resolute Energy Corporation by 82.2% in the 2nd quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock valued at $22,235,000 after purchasing an additional 336,900 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Resolute Energy Corporation by 349.4% in the 2nd quarter. Northern Trust Corp now owns 249,562 shares of the oil and gas exploration company’s stock valued at $7,429,000 after purchasing an additional 194,029 shares during the last quarter. Institutional investors and hedge funds own 93.81% 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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