State Street Corp cut its position in Resolute Energy Corporation (NYSE:REN) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,007,822 shares of the oil and gas exploration company’s stock after selling 9,482 shares during the period. State Street Corp owned approximately 4.57% of Resolute Energy Corporation worth $40,716,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in 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 increased its position in 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. UBS Asset Management Americas Inc. purchased a new position in Resolute Energy Corporation during the first quarter worth approximately $218,000. First Mercantile Trust Co. purchased a new position in Resolute Energy Corporation during the first quarter worth approximately $292,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Resolute Energy Corporation during the first quarter worth approximately $309,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Shares of Resolute Energy Corporation (REN) opened at 27.18 on Thursday. The company’s market capitalization is $599.51 million. The stock has a 50 day moving average price of $30.81 and a 200 day moving average price of $38.09. 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 released 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 Thomson Reuters’ consensus estimate of $0.22 by $0.25. The firm had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. The business’s revenue for the quarter was up 100.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.44) earnings per share. On average, analysts predict that Resolute Energy Corporation will post $0.71 earnings per share for the current fiscal year.
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A number of research firms recently commented on REN. Zacks Investment Research upgraded Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub upgraded Resolute Energy Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Northland Securities set a $60.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. Imperial Capital started coverage on Resolute Energy Corporation in a research report on Tuesday, July 18th. They set an “outperform” rating and a $40.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a research report on Monday, July 17th. They set a “neutral” rating and a $34.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.45.
In other news, Director William Kemper White sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $42.32, for a total transaction of $465,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard F. Betz sold 12,500 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $40.96, for a total value of $512,000.00. The disclosure for this sale can be found here. Insiders sold a total of 37,750 shares of company stock valued at $1,532,578 over the last 90 days. 7.30% of the stock is currently owned by corporate insiders.
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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