Resolute Energy Corp (NYSE:REN) – Investment analysts at Capital One Financial reduced their Q1 2018 earnings estimates for shares of Resolute Energy in a research report issued to clients and investors on Tuesday, March 13th, according to Zacks Investment Research. Capital One Financial analyst R. Tullis now expects that the oil and gas exploration company will post earnings of $0.27 per share for the quarter, down from their previous estimate of $0.37. Capital One Financial also issued estimates for Resolute Energy’s Q3 2018 earnings at $0.73 EPS and FY2019 earnings at $5.95 EPS.
Resolute Energy (NYSE:REN) last posted its quarterly earnings results on Monday, March 12th. The oil and gas exploration company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $89.23 million for the quarter, compared to the consensus estimate of $87.71 million. Resolute Energy had a negative net margin of 1.23% and a negative return on equity of 25.97%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.23) EPS.
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Resolute Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Seaport Global Securities downgraded shares of Resolute Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Northland Securities set a $45.00 target price on shares of Resolute Energy and gave the company a “buy” rating in a research report on Wednesday, March 14th. Zacks Investment Research downgraded shares of Resolute Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Barclays reissued a “buy” rating and set a $36.00 target price on shares of Resolute Energy in a research report on Sunday, December 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.22.
REN stock traded up $0.01 during trading on Thursday, hitting $35.01. The company had a trading volume of 598,693 shares, compared to its average volume of 480,417. The company has a debt-to-equity ratio of -7.40, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market capitalization of $787.64, a PE ratio of 583.50 and a beta of 3.22. Resolute Energy has a 52-week low of $23.64 and a 52-week high of $45.63.
Several large investors have recently added to or reduced their stakes in REN. Parametric Portfolio Associates LLC boosted its holdings in shares of Resolute Energy by 6.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock valued at $223,000 after buying an additional 470 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Resolute Energy in the 2nd quarter valued at about $302,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Resolute Energy by 2,395.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,293 shares of the oil and gas exploration company’s stock valued at $515,000 after buying an additional 16,600 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Resolute Energy in the 2nd quarter valued at about $1,146,000. Finally, Boston Partners bought a new stake in shares of Resolute Energy in the 3rd quarter valued at about $3,328,000.
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About Resolute Energy
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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