Wall Street analysts expect that Resolute Energy Corp (NYSE:REN) will announce earnings per share (EPS) of $1.11 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Resolute Energy’s earnings. The lowest EPS estimate is $0.44 and the highest is $1.54. Resolute Energy reported earnings per share of $0.42 during the same quarter last year, which suggests a positive year-over-year growth rate of 164.3%. The business is expected to report its next quarterly earnings results on Monday, March 11th.
According to Zacks, analysts expect that Resolute Energy will report full-year earnings of $1.66 per share for the current year, with EPS estimates ranging from $0.99 to $2.10. For the next fiscal year, analysts forecast that the company will report earnings of $6.35 per share, with EPS estimates ranging from $5.52 to $7.59. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Resolute Energy.
Resolute Energy (NYSE:REN) last issued its earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). The business had revenue of $106.75 million during the quarter, compared to analyst estimates of $104.54 million. Resolute Energy had a negative net margin of 10.10% and a negative return on equity of 22.38%.
REN has been the topic of a number of research reports. SunTrust Banks set a $36.00 price objective on Resolute Energy and gave the stock a “hold” rating in a report on Tuesday, November 27th. Seaport Global Securities restated a “hold” rating and issued a $35.00 price objective on shares of Resolute Energy in a report on Wednesday, November 7th. ValuEngine upgraded Resolute Energy from a “sell” rating to a “hold” rating in a report on Friday, November 16th. BMO Capital Markets restated a “hold” rating and issued a $33.00 price objective on shares of Resolute Energy in a report on Tuesday, November 13th. Finally, Zacks Investment Research downgraded Resolute Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 14th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Resolute Energy currently has an average rating of “Hold” and a consensus price target of $37.75.
In other Resolute Energy news, Director James E. Duffy sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $32.35, for a total transaction of $32,350.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kemc Fund Iv Gp, Llc purchased 295,845 shares of the stock in a transaction on Tuesday, October 30th. The shares were bought at an average price of $25.95 per share, for a total transaction of $7,677,177.75. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 803,690 shares of company stock worth $21,467,342 and have sold 31,922 shares worth $1,107,406. Company insiders own 11.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Monarch Alternative Capital LP grew its holdings in Resolute Energy by 3.4% during the second quarter. Monarch Alternative Capital LP now owns 2,268,400 shares of the oil and gas exploration company’s stock valued at $70,774,000 after purchasing an additional 75,000 shares during the last quarter. BlackRock Inc. grew its holdings in Resolute Energy by 0.3% during the third quarter. BlackRock Inc. now owns 1,476,348 shares of the oil and gas exploration company’s stock valued at $55,820,000 after purchasing an additional 4,507 shares during the last quarter. Vanguard Group Inc. grew its holdings in Resolute Energy by 1.7% during the third quarter. Vanguard Group Inc. now owns 865,251 shares of the oil and gas exploration company’s stock valued at $32,715,000 after purchasing an additional 14,109 shares during the last quarter. United Services Automobile Association grew its holdings in Resolute Energy by 6.9% during the third quarter. United Services Automobile Association now owns 463,281 shares of the oil and gas exploration company’s stock valued at $17,517,000 after purchasing an additional 29,730 shares during the last quarter. Finally, Silver Point Capital L.P. acquired a new position in Resolute Energy during the second quarter valued at approximately $12,074,000. Institutional investors own 96.25% of the company’s stock.
NYSE:REN traded down $0.20 during mid-day trading on Friday, reaching $33.90. The stock had a trading volume of 15,352 shares, compared to its average volume of 1,008,655. Resolute Energy has a fifty-two week low of $24.60 and a fifty-two week high of $39.28. The company has a market capitalization of $797.77 million, a P/E ratio of 565.00 and a beta of 3.57.
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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