Resolute Energy Corp. (REN) Trading Down 9.7%
Resolute Energy Corp. (NYSE:REN) was down 9.7% during mid-day trading on Tuesday . The stock traded as low as $2.77 and last traded at $2.79, with a volume of 69,457 shares. The stock had previously closed at $3.09.
Several equities research analysts recently issued reports on REN shares. Zacks Investment Research raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Saturday, March 12th. Barclays PLC boosted their target price on shares of Resolute Energy Corp. from $1.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $4.00.
The company’s 50-day moving average is $3.20 and its 200-day moving average is $3.07. The firm’s market capitalization is $44.16 million.
Resolute Energy Corp. (NYSE:REN) last posted its earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $1.07. The business had revenue of $19 million for the quarter, compared to the consensus estimate of $50.68 million. During the same period last year, the company earned ($2.80) earnings per share. The firm’s quarterly revenue was down 53.8% on a year-over-year basis. On average, equities research analysts anticipate that Resolute Energy Corp. will post ($0.37) earnings per share for the current fiscal year.
In other Resolute Energy Corp. news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $0.51, for a total value of $5,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 asset base consists primarily of properties in Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties), and the Powder River and Big Horn Basins in Wyoming (the Wyoming Properties).
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