Resolute Energy Corp. (REN) Sees Large Volume Increase
Resolute Energy Corp. (NYSE:REN) shares saw unusually-high trading volume on Tuesday . Approximately 5,399,320 shares traded hands during mid-day trading, an increase of 578% from the previous session’s volume of 796,853 shares.The stock last traded at $7.45 and had previously closed at $6.07.
REN has been the subject of several analyst reports. Zacks Investment Research downgraded Resolute Energy Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, March 16th. Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a report on Monday. Barclays PLC boosted their price target on Resolute Energy Corp. from $1.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, June 14th. Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a report on Monday. Finally, Wunderlich upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.00 to $8.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Resolute Energy Corp. has a consensus rating of “Hold” and a consensus price target of $4.57.
The company’s market capitalization is $101.56 million. The stock’s 50 day moving average is $3.45 and its 200 day moving average is $3.10.
Resolute Energy Corp. (NYSE:REN) last released its quarterly earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $1.07. The firm had revenue of $19 million for the quarter, compared to analyst estimates of $50.68 million. During the same quarter in the prior year, the company earned ($2.80) EPS. The company’s quarterly revenue was down 53.8% compared to the same quarter last year. Analysts anticipate that Resolute Energy Corp. will post ($0.32) earnings per share for the current 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 shares were sold at an average price of $0.51, for a total transaction of $5,100,000.00. The transaction was disclosed in a filing with the SEC, which is accessible 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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