Zacks: Brokerages Expect Resolute Energy Corporation (NYSE:REN) Will Announce Earnings of $0.34 Per Share
Wall Street analysts expect Resolute Energy Corporation (NYSE:REN) to report earnings per share (EPS) of $0.34 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Resolute Energy Corporation’s earnings, with estimates ranging from $0.25 to $0.41. Resolute Energy Corporation posted earnings per share of ($2.44) in the same quarter last year, which indicates a positive year-over-year growth rate of 113.9%. The company is expected to issue its next earnings report on Monday, August 14th.
On average, analysts expect that Resolute Energy Corporation will report full year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $0.79 to $1.37. For the next fiscal year, analysts anticipate that the business will report earnings of $3.44 per share, with EPS estimates ranging from $0.34 to $6.45. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Resolute Energy Corporation.
Several research analysts recently commented on REN shares. BMO Capital Markets reissued a “buy” rating and issued a $50.00 price objective on shares of Resolute Energy Corporation in a research note on Tuesday, March 14th. KLR Group reissued a “buy” rating and issued a $54.00 price objective on shares of Resolute Energy Corporation in a research note on Wednesday, March 15th. Barclays PLC increased their price objective on Resolute Energy Corporation to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 15th. Finally, SunTrust Banks, Inc. started coverage on Resolute Energy Corporation in a research note on Thursday, June 1st. They issued a “buy” rating and a $55.00 price objective for the company. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $42.62.
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In other news, SVP Bob D. Brady, Jr. sold 10,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $42.56, for a total transaction of $425,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard F. Betz sold 12,500 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $40.96, for a total value of $512,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,750 shares of company stock valued at $1,532,578. 7.70% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Resolute Energy Corporation by 2.6% in the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 79 shares in the last quarter. Bank of America Corp DE boosted its position in Resolute Energy Corporation by 799.4% in the first quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 4,269 shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in Resolute Energy Corporation during the fourth quarter worth $206,000. UBS Asset Management Americas Inc. acquired a new position in Resolute Energy Corporation during the first quarter worth $218,000. Finally, Tudor Investment Corp ET AL boosted its position in Resolute Energy Corporation by 30.8% in the first quarter. Tudor Investment Corp ET AL now owns 6,539 shares of the oil and gas exploration company’s stock worth $264,000 after buying an additional 1,539 shares in the last quarter. Institutional investors and hedge funds own 86.11% of the company’s stock.
Shares of Resolute Energy Corporation (NYSE REN) traded up 2.920% during midday trading on Tuesday, reaching $29.888. 546,481 shares of the company’s stock were exchanged. The stock’s market cap is $658.67 million. Resolute Energy Corporation has a one year low of $3.29 and a one year high of $49.14. The company’s 50-day moving average is $36.74 and its 200-day moving average is $40.58.
Resolute Energy Corporation 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. 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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