Resolute Energy Corp. (REN) Trading Down 4.9%
Resolute Energy Corp. (NYSE:REN)’s share price dropped 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. The stock had previously closed at $6.67.
REN has been the topic of a number of recent analyst reports. Johnson Rice raised Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday. Barclays PLC boosted their price objective on Resolute Energy Corp. from $1.00 to $4.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 14th. Northland Securities raised Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday. Wunderlich raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $8.00 in a research note on Monday. Finally, Zacks Investment Research lowered Resolute Energy Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $5.82.
The company’s market cap is $109.04 million. The firm’s 50-day moving average is $3.71 and its 200-day moving average is $3.17.
Resolute Energy Corp. (NYSE:REN) last issued 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 Thomson Reuters’ consensus estimate of ($0.06) by $1.07. The firm earned $19 million during the quarter, compared to the consensus estimate of $50.68 million. During the same quarter last year, the firm posted ($2.80) EPS. The business’s revenue was down 53.8% on a year-over-year basis. On average, equities research analysts expect that Resolute Energy Corp. will post $0.10 EPS for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 10,000,000 shares of Resolute Energy Corp. stock in a transaction on Thursday, April 28th. The stock was 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 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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