BidaskClub downgraded shares of Resolute Energy Corporation (NYSE:REN) from a hold rating to a sell rating in a research note issued to investors on Tuesday, August 8th.
Other analysts also recently issued reports about the company. BMO Capital Markets set a $38.00 price target on Resolute Energy Corporation and gave the company a buy rating in a report on Monday, June 26th. Zacks Investment Research downgraded Resolute Energy Corporation from a hold rating to a strong sell rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) began coverage on shares of Resolute Energy Corporation in a research report on Monday, July 17th. They issued a neutral rating and a $34.00 price objective for the company. Imperial Capital began coverage on shares of Resolute Energy Corporation in a research report on Tuesday, July 18th. They issued an outperform rating and a $40.00 price objective for the company. Finally, SunTrust Banks, Inc. began coverage on shares of Resolute Energy Corporation in a research report on Thursday, June 1st. They issued a buy rating and a $55.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Resolute Energy Corporation presently has an average rating of Buy and an average target price of $43.45.
Resolute Energy Corporation (NYSE:REN) traded up 4.41% on Tuesday, reaching $27.92. The company had a trading volume of 720,496 shares. The firm’s market capitalization is $615.83 million. The stock’s 50-day moving average price is $30.69 and its 200 day moving average price is $37.88. Resolute Energy Corporation has a 52-week low of $15.70 and a 52-week high of $49.14.
Resolute Energy Corporation (NYSE:REN) last announced its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million during the quarter, compared to analyst estimates of $77.09 million. During the same quarter in the prior year, the company posted ($2.44) earnings per share. The firm’s revenue for the quarter was up 100.8% on a year-over-year basis. On average, equities analysts anticipate that Resolute Energy Corporation will post $0.71 earnings per share for the current fiscal year.
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In other Resolute Energy Corporation news, Director William Kemper White sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $42.32, for a total value of $465,520.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Bob D. Brady, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.56, for a total transaction of $425,600.00. The disclosure for this sale can be found here. Insiders have sold 25,250 shares of company stock worth $1,020,578 in the last ninety days. Corporate insiders own 7.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Resolute Energy Corporation by 2.6% in the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 79 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Resolute Energy Corporation by 799.4% in the first 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 in the last quarter. Northpointe Capital LLC acquired a new position in shares of Resolute Energy Corporation during the second quarter worth about $152,000. UBS Asset Management Americas Inc. acquired a new position in shares of Resolute Energy Corporation during the first quarter worth about $218,000. Finally, Legal & General Group Plc acquired a new position in shares of Resolute Energy Corporation during the second quarter worth about $168,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.
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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