BidaskClub downgraded shares of Resolute Energy Corporation (NYSE:REN) from a hold rating to a sell rating in a research report report published on Tuesday morning.
A number of other equities analysts have also recently issued reports on REN. Northland Securities set a $60.00 price objective on shares of Resolute Energy Corporation and gave the company a buy rating in a research note on Monday, July 17th. Imperial Capital began coverage on shares of Resolute Energy Corporation in a research note on Tuesday, July 18th. They issued an outperform rating and a $40.00 price objective for the company. Zacks Investment Research cut shares of Resolute Energy Corporation from a hold rating to a strong sell rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) began coverage on shares of 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. Finally, BMO Capital Markets dropped their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Resolute Energy Corporation currently has an average rating of Buy and a consensus target price of $43.45.
Resolute Energy Corporation (REN) traded down 0.71% during midday trading on Tuesday, hitting $28.01. 647,103 shares of the stock traded hands. Resolute Energy Corporation has a 1-year low of $14.00 and a 1-year high of $49.14. The stock’s market cap is $617.82 million. The company has a 50-day moving average of $30.95 and a 200-day moving average of $38.56.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The business 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) EPS. The company’s quarterly revenue was up 100.8% compared to the same quarter last year. On average, equities analysts expect that Resolute Energy Corporation will post $1.00 EPS for the current fiscal year.
In related news, Director William Kemper White sold 11,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $42.32, for a total transaction of $465,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard F. Betz sold 12,500 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $40.96, for a total transaction of $512,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,750 shares of company stock valued at $1,532,578 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in REN. Wells Fargo & Company MN boosted its stake 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 during the period. Bank of America Corp DE boosted its stake 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 during the period. Northpointe Capital LLC purchased a new stake in shares of Resolute Energy Corporation during the second quarter worth about $152,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Resolute Energy Corporation during the first quarter worth about $218,000. Finally, Legal & General Group Plc purchased a new stake in shares of Resolute Energy Corporation during the second quarter worth about $168,000. Institutional investors and hedge funds own 86.52% of the company’s stock.
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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