Resolute Energy Corp. (REN) Sees Large Volume Increase
Shares of Resolute Energy Corp. (NYSE:REN) saw unusually-strong trading volume on Tuesday . Approximately 5,399,320 shares traded hands during 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.
Several analysts recently weighed in on REN shares. Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday. Barclays PLC upgraded Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $4.00 to $8.00 in a research report on Wednesday. Zacks Investment Research upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Thursday. Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday. Finally, Wunderlich upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $4.00 to $8.00 in a research report on Monday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $5.82.
The firm’s 50 day moving average is $3.59 and its 200 day moving average is $3.14. The company’s market capitalization is $112.50 million.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings data on Monday, May 9th. The oil and gas exploration company reported ($1.13) earnings per share for the quarter, missing the Zacks’ 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. The business’s revenue for the quarter was down 53.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.80) earnings per share. Equities analysts expect that Resolute Energy Corp. will post ($0.32) EPS for the current year.
In related news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
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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