Resolute Energy Corporation (REN) Given Consensus Recommendation of “Buy” by Brokerages
Resolute Energy Corporation (NYSE:REN) has earned an average rating of “Buy” from the sixteen analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $43.07.
Several research firms recently weighed in on REN. Northland Securities set a $60.00 price target on Resolute Energy Corporation and gave the company a “buy” rating in a report on Monday, July 17th. BMO Capital Markets set a $38.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. 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 target price on the stock. BidaskClub upgraded Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a research note on Monday, July 17th. They issued a “neutral” rating and a $34.00 target price on the stock.
In other Resolute Energy Corporation news, SVP Bob D. Brady, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.56, for a total value of $425,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Duffy sold 1,250 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $29.91, for a total value of $37,387.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,750 shares of company stock worth $1,532,578. 7.30% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of REN. Wells Fargo & Company MN raised its stake 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. Tudor Investment Corp ET AL raised its stake 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. California Public Employees Retirement System raised its stake in Resolute Energy Corporation by 17.5% in the first quarter. California Public Employees Retirement System now owns 14,800 shares of the oil and gas exploration company’s stock worth $598,000 after buying an additional 2,200 shares in the last quarter. Bank of America Corp DE raised its stake 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. Finally, Northpointe Capital LLC purchased a new stake in Resolute Energy Corporation during the second quarter worth approximately $152,000. 86.52% of the stock is owned by institutional investors and hedge funds.
Resolute Energy Corporation (NYSE:REN) traded down 4.82% during trading on Tuesday, reaching $28.24. 1,281,664 shares of the company were exchanged. The company’s market capitalization is $622.35 million. Resolute Energy Corporation has a one year low of $6.78 and a one year high of $49.14. The firm’s 50-day moving average is $31.07 and its 200 day moving average is $39.12.
Resolute Energy Corporation (NYSE:REN) last posted its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The firm had revenue of $71.06 million for the quarter, compared to the consensus estimate of $77.09 million. The firm’s revenue was up 100.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.44) earnings per share. On average, analysts anticipate that Resolute Energy Corporation will post $1.00 EPS for the current fiscal year.
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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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