Resolute Energy Corp. (REN) Stock Price Down 5.5%
Resolute Energy Corp. (NYSE:REN) was down 5.5% on Tuesday . The company traded as low as $7.21 and last traded at $7.27, with a volume of 374,763 shares traded. The stock had previously closed at $7.69.
A number of equities research analysts have recently weighed in on REN shares. Zacks Investment Research lowered Resolute Energy Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Barclays PLC lifted their price objective on Resolute Energy Corp. from $1.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 14th. Wunderlich upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.00 to $8.00 in a research report on Monday, July 11th. Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Finally, Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.82.
The company has a 50 day moving average of $4.19 and a 200-day moving average of $3.26. The company’s market cap is $108.10 million.
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 for the quarter, missing the consensus estimate of ($0.06) by $1.07. The firm earned $19 million during the quarter, compared to analysts’ expectations of $50.68 million. During the same quarter last year, the firm posted ($2.80) EPS. The business’s revenue for the quarter was down 53.8% on a year-over-year basis. On average, analysts anticipate that Resolute Energy Corp. will post $0.49 EPS for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available through 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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