Resolute Energy Corp (NYSE:REN)‘s stock had its “buy” rating reaffirmed by research analysts at Imperial Capital in a note issued to investors on Monday. They currently have a $50.00 target price on the oil and gas exploration company’s stock. Imperial Capital’s price objective indicates a potential upside of 67.34% from the company’s previous close. Imperial Capital also issued estimates for Resolute Energy Corp’s Q4 2017 earnings at $0.25 EPS.
Several other brokerages have also commented on REN. SunTrust Banks, Inc. assumed coverage on shares of Resolute Energy Corp in a research report on Thursday, June 1st. They set a “buy” rating and a $55.00 price target for the company. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Resolute Energy Corp in a research report on Monday, July 17th. They set a “neutral” rating and a $34.00 price target for the company. BMO Capital Markets dropped their price target on shares of Resolute Energy Corp from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, July 14th. Northland Securities set a $60.00 price target on shares of Resolute Energy Corp and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, BidaskClub raised shares of Resolute Energy Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Resolute Energy Corp presently has an average rating of “Hold” and an average price target of $44.99.
Resolute Energy Corp (NYSE REN) opened at 29.88 on Monday. The stock’s market cap is $659.06 million. The company’s 50 day moving average is $28.33 and its 200-day moving average is $34.97. Resolute Energy Corp has a 52-week low of $20.47 and a 52-week high of $49.14.
Resolute Energy Corp (NYSE:REN) last issued its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. During the same period last year, the company posted ($2.44) EPS. The business’s revenue for the quarter was up 100.8% on a year-over-year basis. On average, equities analysts anticipate that Resolute Energy Corp will post $0.89 earnings per share for the current year.
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In other news, Director James E. Duffy sold 1,250 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $29.91, for a total value of $37,387.50. The sale 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 corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Phocas Financial Corp. boosted its stake in shares of Resolute Energy Corp by 4.7% in the second quarter. Phocas Financial Corp. now owns 123,675 shares of the oil and gas exploration company’s stock valued at $3,682,000 after purchasing an additional 5,521 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in shares of Resolute Energy Corp in the second quarter valued at $367,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Resolute Energy Corp in the second quarter valued at $285,000. Westwood Holdings Group Inc. boosted its stake in shares of Resolute Energy Corp 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 purchasing an additional 291,195 shares during the period. Finally, California State Teachers Retirement System purchased a new position in shares of Resolute Energy Corp in the second quarter valued at $1,146,000. Institutional investors and hedge funds own 93.81% of the company’s stock.
About Resolute Energy Corp
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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