Rodman & Renshaw began coverage on shares of Resolute Energy Corp. (NYSE:REN) in a research note released on Wednesday morning. The brokerage issued a buy rating and a $32.00 price target on the oil and gas exploration company’s stock.
A number of other equities research analysts have also recently weighed in on REN. Northland Securities raised Resolute Energy Corp. from a market perform rating to an outperform rating in a report on Monday, July 11th. Wunderlich raised their price target on Resolute Energy Corp. from $8.00 to $15.00 and gave the company a buy rating in a report on Wednesday, August 10th. Zacks Investment Research raised Resolute Energy Corp. from a hold rating to a buy rating and set a $19.00 price target for the company in a report on Tuesday, August 16th. Barclays PLC raised Resolute Energy Corp. from an underweight rating to an equal weight rating and raised their price target for the company from $4.00 to $8.00 in a report on Wednesday, July 13th. Finally, Johnson Rice raised Resolute Energy Corp. from an accumulate rating to a buy rating in a report on Monday, July 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $34.43.
Resolute Energy Corp. (NYSE:REN) opened at 29.70 on Wednesday. The company’s market cap is $453.37 million. Resolute Energy Corp. has a 1-year low of $2.25 and a 1-year high of $31.05. The stock has a 50 day moving average price of $22.57 and a 200 day moving average price of $9.41.
Resolute Energy Corp. (NYSE:REN) last announced its quarterly earnings data on Monday, August 8th. The oil and gas exploration company reported ($2.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $2.41. The business earned $35.40 million during the quarter, compared to the consensus estimate of $51.82 million. During the same period in the prior year, the company earned ($3.46) EPS. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. Equities analysts forecast that Resolute Energy Corp. will post $0.72 earnings per share for the current year.
An institutional investor recently raised its position in Resolute Energy Corp. stock. Spark Investment Management LLC increased its position in Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 500,100 shares of the oil and gas exploration company’s stock after buying an additional 434,842 shares during the period. Spark Investment Management LLC owned about 0.66% of Resolute Energy Corp. worth $255,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 39.98% of the company’s stock.
Resolute Energy Corp. 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. Its properties are Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).
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