Resolute Energy Corp (NYSE:REN) – Analysts at SunTrust Banks dropped their FY2018 earnings per share (EPS) estimates for Resolute Energy in a report issued on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas exploration company will post earnings per share of $3.45 for the year, down from their previous forecast of $3.53. SunTrust Banks has a “Buy” rating and a $44.00 price objective on the stock. SunTrust Banks also issued estimates for Resolute Energy’s FY2019 earnings at $6.87 EPS and FY2020 earnings at $9.11 EPS.
Several other analysts have also weighed in on REN. Barclays reiterated an “overweight” rating and issued a $37.00 price objective on shares of Resolute Energy in a research note on Monday, November 20th. Goldman Sachs set a $37.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a research note on Wednesday, December 6th. Northland Securities set a $40.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a research note on Monday, December 11th. ValuEngine upgraded shares of Resolute Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research upgraded shares of Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $43.22.
Resolute Energy (NYSE:REN) last issued its quarterly earnings results on Monday, March 12th. The oil and gas exploration company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $89.23 million for the quarter, compared to the consensus estimate of $87.71 million. Resolute Energy had a negative net margin of 1.23% and a negative return on equity of 25.97%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.23) EPS.
A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new stake in Resolute Energy during the 4th quarter valued at $348,000. Goldman Sachs Group Inc. increased its stake in Resolute Energy by 256.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 141,377 shares of the oil and gas exploration company’s stock valued at $4,449,000 after purchasing an additional 101,670 shares in the last quarter. Lion Point Capital LP bought a new stake in Resolute Energy during the 4th quarter valued at $30,683,000. Kennedy Capital Management Inc. increased its stake in Resolute Energy by 42.1% during the 4th quarter. Kennedy Capital Management Inc. now owns 245,108 shares of the oil and gas exploration company’s stock valued at $7,714,000 after purchasing an additional 72,647 shares in the last quarter. Finally, Dumac Inc. bought a new stake in Resolute Energy during the 4th quarter valued at $4,639,000.
In other Resolute Energy news, Director James E. Duffy sold 3,000 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $30.96, for a total transaction of $92,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas J. Sutton sold 9,999 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $27.29, for a total transaction of $272,872.71. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.
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About Resolute Energy
Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. Its principal project area is located in the Delaware Basin portion of the Permian Basin, Reeves County. As of December 31, 2017, it had interests in approximately 27,100 gross acres located in the Permian Basin of Texas; and its estimated net proved reserves were approximately 53.4 million barrels of oil equivalent.
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