Resolute Energy Corp (NYSE:REN) – Equities researchers at SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for Resolute Energy in a research note issued on Tuesday, November 27th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas exploration company will post earnings of $1.96 per share for the year, up from their prior estimate of $1.69. SunTrust Banks has a “Hold” rating and a $36.00 price objective on the stock. SunTrust Banks also issued estimates for Resolute Energy’s Q4 2018 earnings at $1.43 EPS.
Resolute Energy (NYSE:REN) last released its quarterly earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.23). The firm had revenue of $106.75 million for the quarter, compared to analyst estimates of $104.54 million. Resolute Energy had a negative net margin of 10.10% and a negative return on equity of 22.38%.
Several other analysts have also commented on the stock. ValuEngine lowered shares of Resolute Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. Seaport Global Securities restated a “hold” rating and set a $35.00 price target on shares of Resolute Energy in a research report on Wednesday, November 7th. BMO Capital Markets reiterated a “hold” rating and issued a $33.00 target price on shares of Resolute Energy in a research report on Tuesday, November 13th. Finally, Zacks Investment Research lowered shares of Resolute Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $37.75.
REN stock opened at $35.06 on Friday. The firm has a market cap of $805.88 million, a P/E ratio of 584.33 and a beta of 3.46. Resolute Energy has a one year low of $24.60 and a one year high of $39.28.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Resolute Energy by 1.7% during the third quarter. Vanguard Group Inc. now owns 865,251 shares of the oil and gas exploration company’s stock worth $32,715,000 after purchasing an additional 14,109 shares during the period. MetLife Investment Advisors LLC raised its stake in Resolute Energy by 55.6% during the third quarter. MetLife Investment Advisors LLC now owns 17,210 shares of the oil and gas exploration company’s stock worth $651,000 after purchasing an additional 6,147 shares during the period. United Services Automobile Association raised its stake in Resolute Energy by 6.9% during the third quarter. United Services Automobile Association now owns 463,281 shares of the oil and gas exploration company’s stock worth $17,517,000 after purchasing an additional 29,730 shares during the period. Richard Bernstein Advisors LLC raised its stake in Resolute Energy by 22.5% during the third quarter. Richard Bernstein Advisors LLC now owns 225,017 shares of the oil and gas exploration company’s stock worth $8,508,000 after purchasing an additional 41,319 shares during the period. Finally, BlackRock Inc. raised its stake in Resolute Energy by 0.3% during the third quarter. BlackRock Inc. now owns 1,476,348 shares of the oil and gas exploration company’s stock worth $55,820,000 after purchasing an additional 4,507 shares during the period. 98.05% of the stock is currently owned by institutional investors.
In other news, Director James E. Duffy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $32.35, for a total value of $32,350.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Kemc Fund Iv Gp, Llc purchased 62,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was acquired at an average cost of $29.63 per share, for a total transaction of $1,837,060.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 803,690 shares of company stock worth $21,467,342. Insiders own 11.20% of the company’s stock.
About Resolute Energy
Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. Its principal project area is located in the Delaware Basin portion of the Permian Basin, Reeves County. As of December 31, 2017, it had interests in approximately 27,100 gross acres located in the Permian Basin of Texas; and its estimated net proved reserves were approximately 53.4 million barrels of oil equivalent.
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