Resolute Energy (REN) Issues Quarterly Earnings Results

Resolute Energy (NYSE:REN) issued its quarterly earnings data on Monday. The oil and gas exploration company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.23), Fidelity Earnings reports. The company had revenue of $106.75 million during the quarter, compared to the consensus estimate of $104.54 million. Resolute Energy had a negative net margin of 10.99% and a negative return on equity of 16.12%.

Shares of REN traded down $0.13 during trading hours on Tuesday, hitting $30.81. The company had a trading volume of 290,673 shares, compared to its average volume of 604,681. The firm has a market capitalization of $701.71 million, a PE ratio of 513.50 and a beta of 3.46. Resolute Energy has a 12 month low of $24.60 and a 12 month high of $39.28.

In related news, Director James E. Duffy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $32.35, for a total transaction of $32,350.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Kemc Fund Iv Gp, Llc purchased 295,845 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were acquired at an average cost of $25.95 per share, for a total transaction of $7,677,177.75. The disclosure for this purchase can be found here. Insiders sold 2,328 shares of company stock worth $73,015 over the last three months. Insiders own 11.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in REN. LPL Financial LLC acquired a new stake in Resolute Energy during the first quarter worth about $247,000. Engineers Gate Manager LP acquired a new stake in Resolute Energy during the third quarter worth about $619,000. Brown Advisory Inc. grew its stake in Resolute Energy by 90.1% during the first quarter. Brown Advisory Inc. now owns 18,805 shares of the oil and gas exploration company’s stock worth $652,000 after buying an additional 8,911 shares in the last quarter. Fondren Management LP acquired a new stake in Resolute Energy during the second quarter worth about $624,000. Finally, Swiss National Bank grew its stake in Resolute Energy by 12.3% during the second quarter. Swiss National Bank now owns 34,800 shares of the oil and gas exploration company’s stock worth $1,086,000 after buying an additional 3,800 shares in the last quarter.

Separately, ValuEngine lowered shares of Resolute Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Resolute Energy has an average rating of “Hold” and a consensus target price of $39.83.

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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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Earnings History for Resolute Energy (NYSE:REN)

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