Resolute Energy Corporation (NYSE:REN) – Investment analysts at Imperial Capital dropped their FY2017 earnings per share (EPS) estimates for shares of Resolute Energy in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Imperial Capital analyst J. Wangler now expects that the oil and gas exploration company will post earnings per share of $0.33 for the year, down from their previous estimate of $0.34. Imperial Capital currently has a “Buy” rating and a $50.00 target price on the stock. Imperial Capital also issued estimates for Resolute Energy’s Q4 2017 earnings at $0.29 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $1.08 EPS and FY2018 earnings at $3.01 EPS.
Resolute Energy (NYSE:REN) last issued its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.21). The company had revenue of $81.60 million for the quarter, compared to the consensus estimate of $86.76 million. The company’s revenue was up 72.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.24) EPS.
Several other equities analysts also recently commented on the stock. Northland Securities set a $50.00 price target on shares of Resolute Energy and gave the company a “buy” rating in a report on Thursday, November 16th. BMO Capital Markets set a $35.00 target price on shares of Resolute Energy and gave the stock a “buy” rating in a research note on Wednesday, August 16th. ValuEngine downgraded shares of Resolute Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Goldman Sachs Group upgraded shares of Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, KLR Group restated a “buy” rating and issued a $64.00 target price (up from $60.00) on shares of Resolute Energy in a research note on Friday, September 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Resolute Energy currently has an average rating of “Buy” and a consensus target price of $45.10.
Shares of Resolute Energy (REN) traded down $1.44 during trading hours on Friday, reaching $29.53. 831,739 shares of the company traded hands, compared to its average volume of 736,063. Resolute Energy has a one year low of $23.64 and a one year high of $49.14. The company has a debt-to-equity ratio of -8.75, a quick ratio of 0.42 and a current ratio of 0.42.
In other news, Director James E. Duffy sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $27.99, for a total value of $69,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Resolute Energy by 2.6% during the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock valued at $124,000 after acquiring an additional 79 shares during the last quarter. Northpointe Capital LLC purchased a new stake in Resolute Energy during the second quarter valued at approximately $152,000. Legal & General Group Plc purchased a new stake in Resolute Energy during the second quarter valued at approximately $168,000. Bank of America Corp DE lifted its position in Resolute Energy by 799.4% during the first quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 4,269 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in Resolute Energy during the 1st quarter valued at approximately $218,000. 97.83% of the stock is owned by hedge funds and other institutional investors.
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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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