Investors Purchase Large Volume of Resolute Energy Corporation Call Options (REN)
Resolute Energy Corporation (NYSE:REN) was the target of some unusual options trading activity on Wednesday. Traders purchased 5,552 call options on the stock. This is an increase of approximately Infinity compared to the typical volume of 0 call options.
In related news, Director James E. Duffy sold 2,500 shares of Resolute Energy Corporation stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total value of $76,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of Resolute Energy Corporation by 2.6% during the 1st quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after purchasing an additional 79 shares during the period. Bank of America Corp DE raised its stake in shares of Resolute Energy Corporation by 799.4% during the 1st quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock worth $194,000 after purchasing an additional 4,269 shares during the period. Northpointe Capital LLC bought a new stake in shares of Resolute Energy Corporation during the 2nd quarter worth $152,000. UBS Asset Management Americas Inc. bought a new stake in shares of Resolute Energy Corporation during the 1st quarter worth $218,000. Finally, Legal & General Group Plc bought a new stake in shares of Resolute Energy Corporation during the 2nd quarter worth $168,000. Institutional investors own 94.16% of the company’s stock.
A number of research firms have issued reports on REN. BMO Capital Markets set a $35.00 price objective on shares of Resolute Energy Corporation and gave the stock a “hold” rating in a report on Tuesday, October 24th. Goldman Sachs Group, Inc. (The) raised shares of Resolute Energy Corporation from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Thursday, October 19th. They noted that the move was a valuation call. Imperial Capital reaffirmed a “buy” rating and set a $50.00 price objective on shares of Resolute Energy Corporation in a report on Monday, September 18th. KLR Group reaffirmed a “buy” rating and set a $64.00 price objective (up from $60.00) on shares of Resolute Energy Corporation in a report on Friday, September 15th. Finally, ValuEngine downgraded shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Resolute Energy Corporation has a consensus rating of “Hold” and a consensus target price of $48.23.
Shares of Resolute Energy Corporation (REN) opened at $30.36 on Friday. The company has a debt-to-equity ratio of -8.40, a current ratio of 0.56 and a quick ratio of 0.56.
Resolute Energy Corporation (NYSE:REN) last released its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million for the quarter, compared to the consensus estimate of $77.09 million. The company’s revenue for the quarter was up 100.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.44) earnings per share. analysts anticipate that Resolute Energy Corporation will post 0.31 EPS for the current 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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