Resolute Energy Corp. (REN) Stock Price Up 7.7%
Resolute Energy Corp. (NYSE:REN) shares rose 7.7% during trading on Friday . The company traded as high as $7.90 and last traded at $7.71, with a volume of 2,378,195 shares. The stock had previously closed at $7.16.
REN has been the subject of a number of analyst reports. Johnson Rice upgraded shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday. Wunderlich upgraded shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $4.00 to $8.00 in a research note on Monday. Zacks Investment Research upgraded shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Thursday. Barclays PLC upgraded shares of Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $4.00 to $8.00 in a research note on Wednesday. Finally, Northland Securities raised shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a report on Monday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Resolute Energy Corp. presently has an average rating of “Hold” and a consensus price target of $5.82.
The firm’s 50 day moving average price is $3.85 and its 200 day moving average price is $3.19. The company’s market capitalization is $117.39 million.
Resolute Energy Corp. (NYSE:REN) last announced its quarterly earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) EPS 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 analyst estimates of $50.68 million. The business’s revenue was down 53.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.80) EPS. On average, equities research analysts expect that Resolute Energy Corp. will post $0.10 EPS for the current year.
In related news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the company’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $0.51, for a total value of $5,100,000.00. The sale was disclosed in a document filed with the SEC, which is accessible 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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