Analysts Set Resolute Energy Corporation (REN) Target Price at $48.23

Resolute Energy Corporation (NYSE:REN) has earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $48.23.

Several research analysts recently weighed in on REN shares. Northland Securities set a $60.00 target price on shares of Resolute Energy Corporation and gave the company a “buy” rating in a research note on Monday, July 17th. Imperial Capital reissued a “buy” rating and issued a $50.00 target price on shares of Resolute Energy Corporation in a research note on Monday, September 18th. KLR Group reissued a “buy” rating and issued a $64.00 target price (up previously from $60.00) on shares of Resolute Energy Corporation in a research note on Friday, September 15th. BMO Capital Markets set a $35.00 price objective on shares of Resolute Energy Corporation and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, 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 for the company in a research note on Thursday, October 19th. They noted that the move was a valuation call.

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In other Resolute Energy Corporation news, Director James E. Duffy sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $30.44, for a total value of $76,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.30% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caxton Associates LP purchased a new position in Resolute Energy Corporation in the 2nd quarter worth approximately $5,005,000. Wells Fargo & Company MN boosted 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 valued at $124,000 after buying an additional 79 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Resolute Energy Corporation by 32.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,719,287 shares of the oil and gas exploration company’s stock valued at $51,182,000 after buying an additional 416,802 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Resolute Energy Corporation by 51.4% during the 2nd quarter. Systematic Financial Management LP now owns 80,020 shares of the oil and gas exploration company’s stock valued at $2,382,000 after buying an additional 27,155 shares during the last quarter. Finally, Caymus Capital Partners L.P. boosted its stake in shares of Resolute Energy Corporation by 82.2% during the 2nd 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. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Resolute Energy Corporation (REN) traded up 7.75% during midday trading on Friday, reaching $29.76. 576,159 shares of the company traded hands. The firm’s market capitalization is $656.42 million. Resolute Energy Corporation has a 12 month low of $22.27 and a 12 month high of $49.14. The company’s 50-day moving average price is $28.84 and its 200 day moving average price is $33.01.

Resolute Energy Corporation (NYSE:REN) last announced its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.25. The firm had revenue of $71.06 million during the quarter, compared to analyst estimates of $77.09 million. During the same period in the previous year, the firm posted ($2.44) EPS. The company’s revenue for the quarter was up 100.8% compared to the same quarter last year. On average, equities analysts anticipate that Resolute Energy Corporation will post $1.13 earnings per share for the current year.

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).

Analyst Recommendations for Resolute Energy Corporation (NYSE:REN)

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