Resolute Energy Corp (NYSE:REN) – Stock analysts at SunTrust Banks dropped their FY2018 earnings per share estimates for shares of Resolute Energy in a research note issued on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas exploration company will post earnings of $3.45 per share for the year, down from their previous estimate of $3.53. SunTrust Banks has a “Buy” rating and a $44.00 price objective on the stock. SunTrust Banks also issued estimates for Resolute Energy’s FY2019 earnings at $6.87 EPS and FY2020 earnings at $9.11 EPS.
Resolute Energy (NYSE:REN) last announced its quarterly earnings data on Monday, March 12th. The oil and gas exploration company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $89.23 million during the quarter, compared to analysts’ expectations of $87.71 million. Resolute Energy had a negative net margin of 1.23% and a negative return on equity of 25.97%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.23) earnings per share.
A number of other research analysts have also recently weighed in on the stock. Barclays restated an “overweight” rating and issued a $37.00 price objective on shares of Resolute Energy in a report on Monday, November 20th. Zacks Investment Research upgraded shares of Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Tuesday, January 16th. Goldman Sachs set a $37.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a report on Wednesday, December 6th. Northland Securities set a $40.00 price objective on shares of Resolute Energy and gave the company a “buy” rating in a report on Monday, December 11th. Finally, B. Riley initiated coverage on shares of Resolute Energy in a report on Monday, February 5th. They issued a “neutral” rating and a $39.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.22.
Resolute Energy (NYSE:REN) opened at $36.48 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.48 and a debt-to-equity ratio of -7.40. The firm has a market cap of $803.39, a P/E ratio of -88.98 and a beta of 3.33. Resolute Energy has a twelve month low of $23.64 and a twelve month high of $45.70.
In related news, insider Nicholas J. Sutton sold 9,999 shares of Resolute Energy stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $27.29, for a total value of $272,872.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James E. Duffy sold 3,000 shares of Resolute Energy stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $30.96, for a total transaction of $92,880.00. The disclosure for this sale can be found here. 7.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of REN. Parametric Portfolio Associates LLC lifted its stake in Resolute Energy by 6.7% in the second quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock worth $223,000 after acquiring an additional 470 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Resolute Energy by 2,395.4% in the second quarter. The Manufacturers Life Insurance Company now owns 17,293 shares of the oil and gas exploration company’s stock worth $515,000 after acquiring an additional 16,600 shares during the last quarter. California State Teachers Retirement System purchased a new stake in shares of Resolute Energy during the 2nd quarter worth approximately $1,146,000. Boston Partners purchased a new stake in shares of Resolute Energy during the 3rd quarter worth approximately $3,328,000. Finally, Principal Financial Group Inc. lifted its position in shares of Resolute Energy by 55.7% during the 3rd quarter. Principal Financial Group Inc. now owns 252,209 shares of the oil and gas exploration company’s stock worth $7,488,000 after buying an additional 90,186 shares during the last quarter.
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Resolute Energy Company Profile
Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. Its principal project area is located in the Delaware Basin portion of the Permian Basin, Reeves County. As of December 31, 2017, it had interests in approximately 27,100 gross acres located in the Permian Basin of Texas; and its estimated net proved reserves were approximately 53.4 million barrels of oil equivalent.
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