Resolute Energy (REN) Downgraded by Zacks Investment Research

Resolute Energy (NYSE:REN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.

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 research analysts have also recently commented on the stock. Northland Securities set a $50.00 target price on shares of Resolute Energy and gave the stock a “buy” rating in a report on Thursday, November 16th. Barclays reissued an “overweight” rating and issued a $37.00 target price on shares of Resolute Energy in a report on Monday, November 20th. Goldman Sachs Group raised shares of Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, October 19th. They noted that the move was a valuation call. SunTrust Banks reissued a “buy” rating on shares of Resolute Energy in a report on Friday, November 10th. Finally, ValuEngine raised shares of Resolute Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.22.

Resolute Energy (REN) opened at $30.68 on Friday. The company has a market cap of $762.21, a PE ratio of -21.01 and a beta of 3.42. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of -8.75. Resolute Energy has a fifty-two week low of $23.64 and a fifty-two week high of $49.14.

Resolute Energy (NYSE:REN) last posted its earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.21). The firm had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $86.76 million. The company’s revenue was up 72.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.24) earnings per share. equities research analysts forecast that Resolute Energy will post 0.83 EPS for the current fiscal year.

In other Resolute Energy news, Director James E. Duffy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $30.96, for a total transaction of $92,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Duffy sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,999 shares of company stock valued at $559,458. 7.30% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in Resolute Energy during the 3rd quarter valued at approximately $112,000. Acrospire Investment Management LLC increased its position in Resolute Energy by 125.0% during the 3rd quarter. Acrospire Investment Management LLC now owns 4,500 shares of the oil and gas exploration company’s stock valued at $117,000 after purchasing an additional 2,500 shares during the period. Wells Fargo & Company MN increased its position in Resolute Energy 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 valued at $124,000 after purchasing an additional 79 shares during the period. Northpointe Capital LLC acquired a new stake in Resolute Energy during the 2nd quarter valued at approximately $152,000. Finally, Legal & General Group Plc acquired a new stake in Resolute Energy during the 2nd quarter valued at approximately $168,000.

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Resolute Energy 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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