Brokerages expect Resolute Energy Corporation (NYSE:REN) to announce sales of $88.90 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Resolute Energy Corporation’s earnings, with the lowest sales estimate coming in at $85.90 million and the highest estimate coming in at $92.80 million. Resolute Energy Corporation posted sales of $47.42 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 87.5%. The firm is scheduled to announce its next earnings report on Monday, November 6th.

According to Zacks, analysts expect that Resolute Energy Corporation will report full year sales of $88.90 million for the current financial year, with estimates ranging from $324.37 million to $341.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $492.39 million per share, with estimates ranging from $435.46 million to $528.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Resolute Energy Corporation.

Resolute Energy Corporation (NYSE:REN) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $77.09 million. During the same quarter in the prior year, the firm earned ($2.44) EPS. The firm’s revenue for the quarter was up 100.8% on a year-over-year basis.

Several analysts have issued reports on the stock. BMO Capital Markets set a $38.00 price objective on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. BidaskClub downgraded shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. SunTrust Banks, Inc. assumed coverage on shares of 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. Finally, ValuEngine downgraded shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $43.45.

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In related news, Director James E. Duffy sold 3,000 shares of Resolute Energy Corporation stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $30.69, for a total transaction of $92,070.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Duffy sold 1,250 shares of Resolute Energy Corporation stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $29.91, for a total transaction of $37,387.50. The disclosure for this sale can be found here. Company insiders own 7.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of REN. Wellington Management Group LLP increased its holdings in Resolute Energy Corporation by 68.9% during the first quarter. Wellington Management Group LLP now owns 3,097,194 shares of the oil and gas exploration company’s stock valued at $125,127,000 after buying an additional 1,263,959 shares during the period. Vanguard Group Inc. increased its holdings in Resolute Energy Corporation by 46.2% during the second quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock valued at $44,518,000 after buying an additional 472,759 shares during the period. Franklin Resources Inc. increased its holdings in Resolute Energy Corporation by 32.0% during the second quarter. Franklin Resources Inc. now owns 1,719,287 shares of the oil and gas exploration company’s stock valued at $51,182,000 after buying an additional 416,802 shares during the period. Westwood Holdings Group Inc. purchased a new position in Resolute Energy Corporation during the first quarter valued at approximately $15,194,000. Finally, Caymus Capital Partners L.P. increased its holdings in Resolute Energy Corporation by 82.2% during the second quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock valued at $22,235,000 after buying an additional 336,900 shares during the period. 93.81% of the stock is currently owned by institutional investors.

Resolute Energy Corporation (REN) opened at 24.28 on Friday. The company’s 50-day moving average price is $29.52 and its 200-day moving average price is $36.07. The stock’s market cap is $535.54 million. Resolute Energy Corporation has a one year low of $20.47 and a one year high of $49.14.

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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Earnings History and Estimates for Resolute Energy Corporation (NYSE:REN)

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