Resolute Energy (REN) Stock Rating Reaffirmed by Barclays
Resolute Energy (NYSE:REN)‘s stock had its “buy” rating reaffirmed by analysts at Barclays in a report released on Sunday. They presently have a $36.00 price target on the oil and gas exploration company’s stock. Barclays’ price target suggests a potential upside of 19.92% from the stock’s previous close.
A number of other brokerages have also weighed in on REN. Imperial Capital restated a “buy” rating and set a $50.00 price objective on shares of Resolute Energy in a research report on Monday, September 18th. BMO Capital Markets set a $35.00 price objective on Resolute Energy and gave the company a “hold” rating in a research report on Tuesday, October 24th. Goldman Sachs Group set a $37.00 price objective on Resolute Energy and gave the company a “buy” rating in a research report on Wednesday, December 6th. SunTrust Banks reaffirmed a “buy” rating on shares of Resolute Energy in a report on Friday, November 10th. Finally, Northland Securities set a $40.00 price target on shares of Resolute Energy and gave the company a “buy” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.29.
Shares of Resolute Energy (NYSE:REN) opened at $30.02 on Friday. Resolute Energy has a 12 month low of $23.64 and a 12 month high of $49.14. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of -8.75. The stock has a market capitalization of $675.57, a price-to-earnings ratio of -22.07 and a beta of 3.43.
Resolute Energy (NYSE:REN) last issued its quarterly earnings results 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 business had revenue of $81.60 million during the quarter, compared to analyst estimates of $86.76 million. During the same period in the previous year, the firm earned ($1.24) EPS. The business’s quarterly revenue was up 72.2% compared to the same quarter last year. equities analysts expect that Resolute Energy will post 0.6 earnings per share for the current fiscal year.
In other Resolute Energy news, Director James E. Duffy sold 2,500 shares of the firm’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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas J. Sutton sold 9,999 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $27.29, for a total transaction of $272,872.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,499 shares of company stock valued at $542,678. 7.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its stake 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 acquiring an additional 4,269 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Resolute Energy by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 31,617 shares of the oil and gas exploration company’s stock valued at $941,000 after acquiring an additional 7,152 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Resolute Energy by 375.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 45,980 shares of the oil and gas exploration company’s stock valued at $1,369,000 after acquiring an additional 36,300 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of Resolute Energy during the second quarter valued at approximately $788,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Resolute Energy by 169.6% during the second quarter. Bank of New York Mellon Corp now owns 104,408 shares of the oil and gas exploration company’s stock valued at $3,108,000 after acquiring an additional 65,680 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.
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Resolute Energy Company Profile
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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