Resolute Energy Corp. (REN) Stock Price Down 4.9%
Resolute Energy Corp. (NYSE:REN) was down 4.9% during trading on Wednesday . The company traded as low as $6.01 and last traded at $6.34, with a volume of 2,452,632 shares trading hands. The stock had previously closed at $6.67.
A number of equities research analysts have recently commented on REN shares. Zacks Investment Research lowered shares of Resolute Energy Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, March 16th. Johnson Rice raised shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday. Barclays PLC upped their price objective on shares of Resolute Energy Corp. from $1.00 to $4.00 and gave the company an “underweight” rating in a research note on Tuesday, June 14th. Northland Securities raised shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday. Finally, Wunderlich raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.00 to $8.00 in a research note on Monday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Resolute Energy Corp. has an average rating of “Hold” and a consensus target price of $5.14.
The stock’s 50-day moving average price is $3.45 and its 200-day moving average price is $3.10. The company’s market cap is $116.02 million.
Resolute Energy Corp. (NYSE:REN) last announced its 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 company had revenue of $19 million for the quarter, compared to analyst estimates 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 prior year, the company earned ($2.80) earnings per share. Analysts expect that Resolute Energy Corp. will post ($0.32) 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 Resolute Energy Corp. stock in a transaction that occurred 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 can be accessed through 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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