Goldman Sachs Group set a $37.00 target price on Resolute Energy (NYSE:REN) in a research note issued to investors on Wednesday. The firm currently has a buy rating on the oil and gas exploration company’s stock.
Several other equities research analysts have also weighed in on REN. Northland Securities set a $50.00 price objective on Resolute Energy and gave the stock a buy rating in a research note on Thursday, November 16th. SunTrust Banks restated a buy rating on shares of Resolute Energy in a report on Friday, November 10th. Imperial Capital restated a buy rating and issued a $50.00 target price on shares of Resolute Energy in a report on Monday, September 18th. KLR Group restated a buy rating and issued a $64.00 target price (up previously from $60.00) on shares of Resolute Energy in a report on Friday, September 15th. Finally, BMO Capital Markets set a $35.00 target price on Resolute Energy and gave the company a buy rating in a report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Resolute Energy presently has an average rating of Buy and a consensus target price of $45.73.
Shares of Resolute Energy (NYSE:REN) opened at $27.36 on Wednesday. Resolute Energy has a 1 year low of $23.64 and a 1 year high of $49.14. The company has a debt-to-equity ratio of -8.75, a current ratio of 0.42 and a quick ratio of 0.42.
Resolute Energy (NYSE:REN) last issued its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.21). The business had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $86.76 million. The business’s quarterly revenue was up 72.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.24) earnings per share. sell-side analysts predict that Resolute Energy will post 0.6 EPS for the current year.
In related news, Director James E. Duffy sold 2,500 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $27.99, for a total transaction of $69,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of REN. Vanguard Group Inc. grew its holdings in shares of Resolute Energy by 46.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock valued at $44,518,000 after buying an additional 472,759 shares during the period. Monarch Alternative Capital LP raised its stake in shares of Resolute Energy by 33.3% during the third quarter. Monarch Alternative Capital LP now owns 1,816,300 shares of the oil and gas exploration company’s stock valued at $53,926,000 after acquiring an additional 453,251 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Resolute Energy by 32.0% during the second 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 acquiring an additional 416,802 shares during the last quarter. Caymus Capital Partners L.P. raised its stake in Resolute Energy by 82.2% during the second quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock worth $22,235,000 after buying an additional 336,900 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Resolute Energy during the third quarter worth $9,130,000. Institutional investors own 97.83% of the company’s stock.
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About Resolute Energy
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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