Resolute Energy Corporation (NYSE:REN) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
Several other research analysts also recently commented on the company. Imperial Capital began coverage on Resolute Energy Corporation in a research note on Tuesday, July 18th. They set an “outperform” rating and a $40.00 target price for the company. Northland Securities set a $60.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) began coverage on Resolute Energy Corporation in a research note on Monday, July 17th. They set a “neutral” rating and a $34.00 target price for the company. BMO Capital Markets reduced their target price 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. Finally, Zacks Investment Research downgraded Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.45.
Resolute Energy Corporation (NYSE REN) traded down 2.93% during midday trading on Tuesday, reaching $28.80. The company had a trading volume of 839,933 shares. The company’s 50-day moving average is $31.42 and its 200 day moving average is $39.30. Resolute Energy Corporation has a 52-week low of $6.42 and a 52-week high of $49.14. The company’s market cap is $634.69 million.
Resolute Energy Corporation (NYSE:REN) last posted its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. During the same quarter in the prior year, the business earned ($2.44) earnings per share. The firm’s revenue for the quarter was up 100.8% compared to the same quarter last year. On average, equities research analysts forecast that Resolute Energy Corporation will post $1.00 EPS for the current year.
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In related news, Director William Kemper White sold 11,000 shares of Resolute Energy Corporation stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $42.32, for a total transaction of $465,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard F. Betz sold 12,500 shares of Resolute Energy Corporation stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $40.96, for a total value of $512,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,750 shares of company stock valued at $1,532,578. 7.30% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Resolute Energy Corporation by 68.9% in 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 last quarter. Vanguard Group Inc. boosted its stake in Resolute Energy Corporation by 53.5% in the first quarter. Vanguard Group Inc. now owns 1,022,623 shares of the oil and gas exploration company’s stock valued at $41,313,000 after buying an additional 356,237 shares during the last quarter. Caymus Capital Partners L.P. boosted its stake in Resolute Energy Corporation by 82.2% in 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 last quarter. Westwood Holdings Group Inc. purchased a new stake in Resolute Energy Corporation during the first quarter valued at $15,194,000. Finally, United Services Automobile Association boosted its stake in Resolute Energy Corporation by 189.3% in the first quarter. United Services Automobile Association now owns 286,723 shares of the oil and gas exploration company’s stock valued at $11,584,000 after buying an additional 187,623 shares during the last quarter. 86.52% of the stock is owned by institutional investors and hedge funds.
About Resolute Energy Corporation
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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