Resolute Energy Corporation (NYSE:REN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Resolute Energy Corporation, formerly Hicks Acquisition Company I, Inc. (HACI), is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties. The company operates producing properties in Utah, which were legacy properties acquired from two major oil companies, in connection with a strategic alliance with Navajo Nation Oil and Gas Company (wholly owned by the Navajo Nation) and in Wyoming and Oklahoma, which were acquired through the acquisition of a privately held oil and gas producer. In addition, Resolute owns exploration properties in Wyoming and Alabama. “

A number of other brokerages also recently issued reports on REN. Imperial Capital started coverage on Resolute Energy Corporation in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price objective for the company. BMO Capital Markets reduced their price objective on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, July 14th. 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 price objective for the company. Northland Securities set a $60.00 price objective on Resolute Energy Corporation and gave the company a “buy” rating in a research note on Monday, July 17th. Finally, BidaskClub upgraded Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. Resolute Energy Corporation presently has a consensus rating of “Buy” and an average price target of $43.45.

Resolute Energy Corporation (NYSE REN) traded down 0.71% during trading on Friday, reaching $28.01. 647,103 shares of the company’s stock were exchanged. Resolute Energy Corporation has a 12 month low of $14.00 and a 12 month high of $49.14. The firm’s 50-day moving average price is $30.95 and its 200-day moving average price is $38.56. The firm’s market cap is $617.82 million.

Resolute Energy Corporation (NYSE:REN) last announced its quarterly earnings data on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The business had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. The firm’s revenue for the quarter was up 100.8% compared to the same quarter last year. During the same quarter last year, the company earned ($2.44) EPS. On average, equities research analysts anticipate that Resolute Energy Corporation will post $1.00 EPS for the current year.

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In other Resolute Energy Corporation news, Director James E. Duffy sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $30.69, for a total value of $92,070.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. Insiders have sold a total of 37,750 shares of company stock valued at $1,532,578 in the last quarter. 7.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of 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 valued at $124,000 after buying an additional 79 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Resolute Energy Corporation by 6.7% in the second quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock valued at $223,000 after buying an additional 470 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of 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 valued at $264,000 after buying an additional 1,539 shares in the last quarter. California Public Employees Retirement System increased its position in shares of 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 valued at $598,000 after buying an additional 2,200 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Resolute Energy Corporation by 63.0% in the second quarter. UBS Asset Management Americas Inc. now owns 8,800 shares of the oil and gas exploration company’s stock valued at $262,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.

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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Analyst Recommendations for Resolute Energy Corporation (NYSE:REN)

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