United Services Automobile Association boosted its stake in shares of Resolute Energy Corp (NYSE:REN) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 463,281 shares of the oil and gas exploration company’s stock after acquiring an additional 29,730 shares during the quarter. United Services Automobile Association owned approximately 2.00% of Resolute Energy worth $17,517,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of Resolute Energy by 63.2% during the 2nd quarter. Sei Investments Co. now owns 40,255 shares of the oil and gas exploration company’s stock worth $1,256,000 after purchasing an additional 15,590 shares during the last quarter. Swiss National Bank lifted its holdings in 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 acquiring an additional 3,800 shares during the last quarter. BlackRock Inc. lifted its holdings in 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 acquiring an additional 78,785 shares during the last quarter. Richard Bernstein Advisors LLC acquired a new position in Resolute Energy in the second quarter valued at approximately $5,731,000. Finally, Precocity Capital LP acquired a new position in Resolute Energy in the second quarter valued at approximately $10,296,000. 96.25% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Michael Stefanoudakis sold 29,922 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $34.79, for a total transaction of $1,040,986.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James E. Duffy sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $34.07, for a total value of $34,070.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 803,690 shares of company stock worth $21,467,342 and have sold 31,922 shares worth $1,107,406. 11.20% of the stock is owned by corporate insiders.
NYSE:REN opened at $34.44 on Thursday. Resolute Energy Corp has a 52 week low of $24.60 and a 52 week high of $39.28. The firm has a market cap of $797.77 million, a price-to-earnings ratio of 574.00 and a beta of 3.57.
Resolute Energy (NYSE:REN) last released its quarterly earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $106.75 million for the quarter, compared to analyst estimates of $104.54 million. Sell-side analysts predict that Resolute Energy Corp will post 1.66 EPS for the current fiscal year.
A number of research firms recently commented on REN. ValuEngine cut Resolute Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $33.00 price objective on shares of Resolute Energy in a report on Tuesday, November 13th. Seaport Global Securities reiterated a “hold” rating and issued a $35.00 price objective on shares of Resolute Energy in a report on Wednesday, November 7th. Zacks Investment Research upgraded Resolute Energy from a “strong sell” rating to a “hold” rating in a research note on Saturday, December 1st. Finally, SunTrust Banks set a $36.00 price target on Resolute Energy and gave the stock a “hold” rating in a research note on Tuesday, November 27th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Resolute Energy currently has an average rating of “Hold” and a consensus price target of $37.75.
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Resolute Energy 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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