Resolute Energy Corporation (NYSE:REN) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 5,617,737 shares, a growth of 7.4% from the July 14th total of 5,228,703 shares. Currently, 30.2% of the shares of the company are short sold. Based on an average daily volume of 628,148 shares, the short-interest ratio is currently 8.9 days.
Shares of Resolute Energy Corporation (NYSE:REN) opened at 28.88 on Friday. Resolute Energy Corporation has a one year low of $15.70 and a one year high of $49.14. The stock’s market cap is $637.01 million. The stock has a 50 day moving average of $30.51 and a 200 day moving average of $37.38.
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 Zacks’ consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. The business’s quarterly revenue was up 100.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.44) earnings per share. Equities analysts expect that Resolute Energy Corporation will post $0.77 EPS for the current fiscal year.
In other Resolute Energy Corporation news, Director James E. Duffy sold 1,250 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $29.91, for a total transaction of $37,387.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James E. Duffy sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $30.69, for a total transaction of $92,070.00. The disclosure for this sale can be found here. Company insiders own 7.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Resolute Energy Corporation during the fourth quarter worth approximately $2,416,000. United Services Automobile Association raised its stake in shares of Resolute Energy Corporation by 189.3% in the first quarter. United Services Automobile Association now owns 286,723 shares of the oil and gas exploration company’s stock worth $11,584,000 after buying an additional 187,623 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Resolute Energy Corporation during the first quarter worth approximately $1,202,000. Wells Fargo & Company MN raised 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 last quarter. Finally, First Mercantile Trust Co. purchased a new stake in shares of Resolute Energy Corporation during the first quarter worth approximately $292,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Several research analysts have issued reports on REN shares. Northland Securities set a $60.00 price objective on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets set a $35.00 price objective on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. SunTrust Banks, Inc. started coverage on shares of Resolute Energy Corporation in a research report on Thursday, June 1st. They set a “buy” rating and a $55.00 price objective on the stock. BidaskClub raised shares of Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.45.
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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