Resolute Energy Corp. Rating Lowered to Market Perform at FBR Capital Markets (REN)
Resolute Energy Corp. (NYSE:REN) was downgraded by equities researchers at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
REN has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Resolute Energy Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, October 9th. They now have a $10.00 price target on the stock. Separately, analysts at SunTrust raised their price target on shares of Resolute Energy Corp. from $9.00 to $10.00 in a research note to investors on Friday, October 4th. They now have a “neutral” rating on the stock. Finally, analysts at Northland Securities initiated coverage on shares of Resolute Energy Corp. in a research note to investors on Wednesday, September 18th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.93.
Shares of Resolute Energy Corp. (NYSE:REN) traded down 5.77% on Wednesday, hitting $9.47. The stock had a trading volume of 1,442,381 shares. Resolute Energy Corp. has a 52-week low of $7.41 and a 52-week high of $11.56. The stock has a 50-day moving average of $8.24 and a 200-day moving average of $8.94. The company has a market cap of $632.4 million and a price-to-earnings ratio of 358.93.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.12. The company had revenue of $89.12 million for the quarter, compared to the consensus estimate of $88.50 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 38.1% on a year-over-year basis. On average, analysts predict that Resolute Energy Corp. will post $0.15 earnings per share for the current fiscal year.
In other Resolute Energy Corp. news, major shareholder Natural Gas Partners Vii, L.P. sold 150,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $10.38, for a total transaction of $1,557,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Resolute Energy Corporation is an independent oil and gas company engaged in the exploitation, development, exploration for and acquisition of oil and gas properties.
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