Resolute Energy Corp. (REN) Shares Up 22.4%
Resolute Energy Corp. (NYSE:REN) shot up 22.4% during trading on Friday . The stock traded as high as $3.75 and last traded at $3.61, with a volume of 400,434 shares traded. The stock had previously closed at $2.95.
Several equities research analysts have recently weighed in on REN shares. Zacks Investment Research downgraded Resolute Energy Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Barclays PLC upped their target price on 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 research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $4.00.
The company’s 50-day moving average price is $3.21 and its 200 day moving average price is $3.07. The firm’s market capitalization is $55.27 million.
Resolute Energy Corp. (NYSE:REN) last issued 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. During the same period in the previous year, the business posted ($2.80) earnings per share. The firm earned $19 million during the quarter, compared to analyst estimates of $50.68 million. The firm’s revenue for the quarter was down 53.8% compared to the same quarter last year. On average, analysts forecast that Resolute Energy Corp. will post ($0.37) EPS for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the firm’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $0.51, for a total value of $5,100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
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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