Resolute Energy Corp. (NYSE:REN) Given Consensus Rating of “Buy” by Brokerages
Resolute Energy Corp. (NYSE:REN) has earned an average recommendation of “Buy” from the six research firms that are covering the stock. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.33.
A number of research analysts have recently commented on REN shares. Northland Securities restated an “outperform” rating and issued a $35.00 price target (up from $12.00) on shares of Resolute Energy Corp. in a report on Wednesday, September 7th. Wunderlich upped their price target on shares of Resolute Energy Corp. from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Barclays PLC restated an “equal weight” rating and issued a $28.00 price target (up from $5.00) on shares of Resolute Energy Corp. in a report on Friday. Zacks Investment Research cut shares of Resolute Energy Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Johnson Rice upgraded shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a report on Monday, July 11th.
A number of hedge funds and other institutional investors have recently modified their holdings of REN. Spark Investment Management LLC boosted its position in shares of Resolute Energy Corp. by 666.3% in the first quarter. Spark Investment Management LLC now owns 500,100 shares of the oil and gas exploration company’s stock valued at $255,000 after buying an additional 434,842 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of Resolute Energy Corp. by 26.7% in the first quarter. First Republic Investment Management Inc. now owns 571,839 shares of the oil and gas exploration company’s stock valued at $292,000 after buying an additional 120,589 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Resolute Energy Corp. during the second quarter valued at about $1,681,000. Institutional investors own 39.98% of the company’s stock.
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Shares of Resolute Energy Corp. (NYSE:REN) traded down 1.46% on Tuesday, reaching $23.58. 910,721 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $16.86 and a 200-day moving average price of $6.97. Resolute Energy Corp. has a 12-month low of $1.75 and a 12-month high of $25.48. The company’s market cap is $359.95 million.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings data on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $2.41. Resolute Energy Corp. had a negative net margin of 332.86% and a negative return on equity of 264.76%. The firm had revenue of $35.40 million for the quarter, compared to the consensus estimate of $51.82 million. During the same quarter last year, the firm earned ($3.46) EPS. The company’s revenue was down 26.9% on a year-over-year basis. Equities research analysts anticipate that Resolute Energy Corp. will post $0.49 EPS for the current fiscal year.
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. Its properties are Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).
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