Granahan Investment Management Inc. MA Sells 54,296 Shares of Resolute Energy Corporation (REN)

Granahan Investment Management Inc. MA cut its position in shares of Resolute Energy Corporation (NYSE:REN) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,965 shares of the oil and gas exploration company’s stock after selling 54,296 shares during the quarter. Granahan Investment Management Inc. MA owned 0.68% of Resolute Energy worth $4,512,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in REN. Vanguard Group Inc. grew its position in Resolute Energy by 46.2% during the second quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock worth $44,518,000 after buying an additional 472,759 shares in the last quarter. Monarch Alternative Capital LP grew its position in Resolute Energy by 33.3% during the third quarter. Monarch Alternative Capital LP now owns 1,816,300 shares of the oil and gas exploration company’s stock worth $53,926,000 after buying an additional 453,251 shares in the last quarter. Franklin Resources Inc. grew its position in Resolute Energy by 32.0% during the second quarter. Franklin Resources Inc. now owns 1,719,287 shares of the oil and gas exploration company’s stock worth $51,182,000 after buying an additional 416,802 shares in the last quarter. Caymus Capital Partners L.P. grew its position in Resolute Energy by 82.2% during the second quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock worth $22,235,000 after buying an additional 336,900 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Resolute Energy during the third quarter worth about $9,130,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director James E. Duffy sold 1,000 shares of Resolute Energy stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $27.69, for a total value of $27,690.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Duffy sold 2,500 shares of Resolute Energy stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total transaction of $76,100.00. The disclosure for this sale can be found here. Insiders sold 8,000 shares of company stock valued at $229,845 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Shares of Resolute Energy Corporation (NYSE:REN) traded down $1.26 on Wednesday, reaching $26.31. 665,900 shares of the company’s stock were exchanged, compared to its average volume of 734,386. The company has a debt-to-equity ratio of -8.75, a current ratio of 0.42 and a quick ratio of 0.42. Resolute Energy Corporation has a 1 year low of $23.64 and a 1 year high of $49.14.

Resolute Energy (NYSE:REN) last announced its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.21). The business had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $86.76 million. During the same period last year, the company posted ($1.24) EPS. The firm’s revenue for the quarter was up 72.2% on a year-over-year basis. sell-side analysts anticipate that Resolute Energy Corporation will post 0.6 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on REN shares. BMO Capital Markets set a $35.00 target price on Resolute Energy and gave the stock a “buy” rating in a research report on Wednesday, August 16th. ValuEngine cut shares of Resolute Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. KLR Group restated a “buy” rating and set a $64.00 price target (up previously from $60.00) on shares of Resolute Energy in a research note on Friday, September 15th. Imperial Capital restated a “buy” rating and set a $50.00 price target on shares of Resolute Energy in a research note on Monday, September 18th. Finally, Goldman Sachs Group upgraded shares of Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Thursday, October 19th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Resolute Energy presently has a consensus rating of “Buy” and a consensus price target of $44.48.

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Resolute Energy 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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Institutional Ownership by Quarter for Resolute Energy (NYSE:REN)

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