Resolute Energy Sees Unusually High Options Volume (REN)
Resolute Energy Corporation (NYSE:REN) saw unusually large options trading activity on Monday. Stock investors acquired 4,109 call options on the company. This is an increase of 1,802% compared to the average volume of 216 call options.
A number of equities analysts recently weighed in on REN shares. Goldman Sachs Group raised shares of Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, October 19th. They noted that the move was a valuation call. KLR Group restated a “buy” rating and issued a $64.00 price objective (up from $60.00) on shares of Resolute Energy in a research note on Friday, September 15th. ValuEngine cut Resolute Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Northland Securities set a $50.00 price objective on Resolute Energy and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research upgraded Resolute Energy from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $45.73.
In related news, Director James E. Duffy sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total value of $76,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.30% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Northpointe Capital LLC bought a new stake in shares of Resolute Energy during the second quarter valued at about $152,000. Legal & General Group Plc bought a new stake in shares of Resolute Energy during the second quarter valued at about $168,000. Bank of America Corp DE increased its position in shares of Resolute Energy by 799.4% during the first quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock valued at $194,000 after buying an additional 4,269 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Resolute Energy by 6.7% during the second 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 during the period. Finally, Brown Advisory Inc. bought a new stake in shares of Resolute Energy during the third quarter valued at about $233,000. Institutional investors and hedge funds own 97.83% of the company’s stock.
Shares of Resolute Energy (REN) opened at $27.28 on Thursday. Resolute Energy has a 52 week low of $23.64 and a 52 week high of $49.14. The company has a debt-to-equity ratio of -8.75, a current ratio of 0.42 and a quick ratio of 0.42.
Resolute Energy (NYSE:REN) last announced its quarterly earnings data on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). The company had revenue of $81.60 million during the quarter, compared to analyst estimates of $86.76 million. During the same quarter in the prior year, the company earned ($1.24) EPS. The business’s revenue for the quarter was up 72.2% compared to the same quarter last year. research analysts predict that Resolute Energy will post 0.6 EPS for the current year.
About Resolute Energy
Resolute Energy Corporation is an independent oil and gas company. The Company is engaged in the exploitation, development, exploration for and acquisition of oil and gas properties. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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