Resolute Energy Corp. (REN) Downgraded by Vetr Inc.
Resolute Energy Corp. (NYSE:REN) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They presently have a $36.33 price objective on the oil and gas exploration company’s stock. Vetr‘s price objective indicates a potential upside of 9.82% from the stock’s current price.
REN has been the topic of a number of other research reports. Johnson Rice raised Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Zacks Investment Research raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, August 16th. Barclays PLC raised Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $4.00 to $8.00 in a research report on Wednesday, July 13th. Wunderlich raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $8.00 in a research report on Monday, July 11th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $12.00) on shares of Resolute Energy Corp. in a research report on Wednesday, September 7th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.67.
Shares of Resolute Energy Corp. (NYSE:REN) traded up 2.61% on Monday, hitting $33.08. The company had a trading volume of 981,942 shares. The firm has a 50-day moving average price of $24.45 and a 200 day moving average price of $10.37. The company’s market capitalization is $504.97 million. Resolute Energy Corp. has a 12-month low of $2.25 and a 12-month high of $33.17.
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Resolute Energy Corp. (NYSE:REN) last announced its earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $2.41. The company earned $35.40 million during the quarter, compared to analyst estimates of $51.82 million. During the same quarter in the previous year, the company posted ($3.46) earnings per share. The business’s revenue was down 26.9% compared to the same quarter last year. Equities analysts expect that Resolute Energy Corp. will post $0.72 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in shares of Resolute Energy Corp. during the second quarter valued at approximately $1,681,000. First Republic Investment Management Inc. increased 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 in the last quarter. Spark Investment Management LLC increased its stake in 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 period. Finally, Castleton Investment Management LLC purchased a new stake in Resolute Energy Corp. during the fourth quarter valued at about $1,494,000. Institutional investors own 40.00% of the company’s stock.
Resolute Energy Corp. Company 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. 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).
To view Vetr’s full report, visit Vetr’s official website.
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