Resolute Energy Corp. (REN) Stock Price Up 22.4%
Shares of Resolute Energy Corp. (NYSE:REN) rose 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.
REN has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Resolute Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 16th. Barclays PLC raised 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 note on Tuesday, June 14th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Resolute Energy Corp. currently has an average rating of “Hold” and a consensus price target of $4.00.
The company’s market capitalization is $57.86 million. The company’s 50 day moving average is $3.23 and its 200 day moving average is $3.07.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $1.07. The company had revenue of $19 million for the quarter, compared to analysts’ expectations of $50.68 million. Resolute Energy Corp.’s quarterly revenue was down 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.80) earnings per share. On average, equities analysts forecast that Resolute Energy Corp. will post ($0.13) EPS for the current fiscal year.
In related news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the company’s stock in a transaction 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 legal filing with the SEC, 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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