Resolute Energy Corp (NYSE:REN) – Analysts at Seaport Global Securities reduced their FY2018 earnings per share (EPS) estimates for Resolute Energy in a report released on Tuesday, November 6th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas exploration company will earn $1.83 per share for the year, down from their prior forecast of $2.51. Seaport Global Securities has a “Hold” rating and a $35.00 price target on the stock. Seaport Global Securities also issued estimates for Resolute Energy’s Q4 2018 earnings at $1.27 EPS, Q1 2019 earnings at $1.61 EPS, Q3 2019 earnings at $1.95 EPS, Q4 2019 earnings at $2.23 EPS and FY2019 earnings at $7.54 EPS.
Resolute Energy (NYSE:REN) last released its earnings results on Monday, November 5th. 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). Resolute Energy had a negative return on equity of 22.38% and a negative net margin of 10.10%. The business had revenue of $106.75 million for the quarter, compared to analysts’ expectations of $104.54 million.
Separately, ValuEngine downgraded Resolute Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.14.
Resolute Energy stock opened at $30.35 on Friday. The stock has a market capitalization of $712.06 million, a PE ratio of 505.83 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 other news, Director James E. Duffy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $32.35, for a total value of $32,350.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Kemc Fund Iv Gp, Llc acquired 445,845 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $26.81 per share, for a total transaction of $11,953,104.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 2,328 shares of company stock worth $73,015. Company insiders own 11.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in REN. BlackRock Inc. grew its stake in shares of Resolute Energy by 5.7% in the second quarter. BlackRock Inc. now owns 1,471,841 shares of the oil and gas exploration company’s stock valued at $45,922,000 after buying an additional 78,785 shares in the last quarter. Silver Point Capital L.P. acquired a new stake in shares of Resolute Energy in the second quarter valued at about $12,074,000. Bank of America Corp DE grew its stake in shares of Resolute Energy by 59.7% in the second quarter. Bank of America Corp DE now owns 157,798 shares of the oil and gas exploration company’s stock valued at $4,923,000 after buying an additional 58,990 shares in the last quarter. Swiss National Bank grew its stake in shares of Resolute Energy by 12.3% in the second quarter. Swiss National Bank now owns 34,800 shares of the oil and gas exploration company’s stock valued at $1,086,000 after buying an additional 3,800 shares in the last quarter. Finally, Precocity Capital LP acquired a new stake in shares of Resolute Energy in the second quarter valued at about $10,296,000.
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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