Shares of Resolute Energy Corporation (NYSE:REN) have been assigned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $43.67.
A number of equities research analysts have recently commented on REN shares. 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. Barclays reiterated an “overweight” rating and set a $37.00 price target on shares of Resolute Energy in a report on Monday, November 20th. Goldman Sachs Group upgraded shares of Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, October 19th. They noted that the move was a valuation call. KLR Group reiterated a “buy” rating and set a $64.00 price target (up previously from $60.00) on shares of Resolute Energy in a report on Friday, September 15th. Finally, BMO Capital Markets cut shares of Resolute Energy from an “outperform” rating to a “market perform” rating and set a $35.00 price target on the stock. in a report on Monday, September 18th. They noted that the move was a valuation call.
In related news, insider Nicholas J. Sutton sold 9,999 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $27.29, for a total transaction of $272,872.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James E. Duffy sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $28.04, for a total transaction of $56,080.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,999 shares of company stock worth $559,458. 7.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of REN. Russell Investments Group Ltd. lifted its position in Resolute Energy by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 31,617 shares of the oil and gas exploration company’s stock valued at $941,000 after purchasing an additional 7,152 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Resolute Energy by 375.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 45,980 shares of the oil and gas exploration company’s stock valued at $1,369,000 after purchasing an additional 36,300 shares during the period. Rhumbline Advisers bought a new position in Resolute Energy during the second quarter valued at approximately $788,000. Bank of New York Mellon Corp raised its position in Resolute Energy by 169.6% in the second quarter. Bank of New York Mellon Corp now owns 104,408 shares of the oil and gas exploration company’s stock worth $3,108,000 after acquiring an additional 65,680 shares during the period. Finally, Legal & General Group Plc bought a new position in Resolute Energy in the second quarter worth approximately $168,000. Institutional investors own 97.76% of the company’s stock.
Resolute Energy (NYSE:REN) traded down $0.15 during trading hours on Friday, hitting $33.01. 487,313 shares of the stock were exchanged, compared to its average volume of 533,925. Resolute Energy has a 1 year low of $23.64 and a 1 year high of $49.14. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of -8.75. The stock has a market capitalization of $737.90, a PE ratio of -22.61 and a beta of 3.42.
Resolute Energy (NYSE:REN) last posted its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). The firm had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $86.76 million. During the same quarter last year, the firm posted ($1.24) EPS. The firm’s revenue was up 72.2% on a year-over-year basis. sell-side analysts forecast that Resolute Energy will post 0.6 EPS for the current year.
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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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