Resolute Energy Corporation (REN) Receives Consensus Rating of “Hold” from Analysts
Resolute Energy Corporation (NYSE:REN) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $48.23.
A number of analysts have recently issued reports on the company. BMO Capital Markets dropped their target price on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, July 14th. Imperial Capital reaffirmed a “buy” rating and set a $50.00 target price on shares of Resolute Energy Corporation in a research report on Monday, September 18th. Goldman Sachs Group, Inc. (The) assumed coverage on Resolute Energy Corporation in a research report on Monday, July 17th. They set a “neutral” rating and a $34.00 target price on the stock. Zacks Investment Research lowered 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.
In related news, Director James E. Duffy sold 2,500 shares of Resolute Energy Corporation stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total value of $76,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of REN. Vanguard Group Inc. grew its stake in Resolute Energy Corporation 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 purchasing an additional 472,759 shares in the last quarter. Franklin Resources Inc. boosted its stake in Resolute Energy Corporation by 32.0% in the second 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 acquiring an additional 416,802 shares during the period. Caymus Capital Partners L.P. boosted its stake in Resolute Energy Corporation by 82.2% in the second 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 acquiring an additional 336,900 shares during the period. Westwood Holdings Group Inc. boosted its stake in Resolute Energy Corporation by 77.4% in the second quarter. Westwood Holdings Group Inc. now owns 667,290 shares of the oil and gas exploration company’s stock valued at $19,865,000 after acquiring an additional 291,195 shares during the period. Finally, Northern Trust Corp boosted its stake in Resolute Energy Corporation by 349.4% in the second quarter. Northern Trust Corp now owns 249,562 shares of the oil and gas exploration company’s stock valued at $7,429,000 after acquiring an additional 194,029 shares during the period. Institutional investors and hedge funds own 93.81% of the company’s stock.
Resolute Energy Corporation (REN) traded up 3.48% on Friday, hitting $30.00. The stock had a trading volume of 1,059,194 shares. The company’s 50-day moving average is $28.86 and its 200-day moving average is $33.44. The stock’s market cap is $661.71 million. Resolute Energy Corporation has a one year low of $22.27 and a one year high of $49.14.
Resolute Energy Corporation (NYSE:REN) last announced its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million for the quarter, compared to analysts’ expectations of $77.09 million. During the same period in the previous year, the firm posted ($2.44) earnings per share. The firm’s revenue was up 100.8% compared to the same quarter last year. On average, analysts anticipate that Resolute Energy Corporation will post $1.13 earnings per share for the current fiscal year.
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Resolute Energy Corporation 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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