Resolute Energy Corp (REN) Stock Price Up 3.6%
Resolute Energy Corp (NYSE:REN) shares rose 3.6% during mid-day trading on Friday . The company traded as high as $7.53 and last traded at $7.29, with a volume of 316,339 shares traded. The stock had previously closed at $7.04.
REN has been the topic of a number of research reports. Johnson Rice upgraded Resolute Energy Corp from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Wunderlich upgraded 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, July 11th. Zacks Investment Research upgraded Resolute Energy Corp from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Thursday, July 14th. Barclays PLC upgraded 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, July 13th. Finally, Northland Securities upgraded Resolute Energy Corp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 11th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $5.96.
The firm’s 50-day moving average is $4.31 and its 200 day moving average is $3.29. The company’s market cap is $116.33 million.
Resolute Energy Corp (NYSE:REN) last released its quarterly earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $1.07. During the same quarter last year, the business posted ($2.80) EPS. The company earned $19 million during the quarter, compared to analyst estimates of $50.68 million. The business’s quarterly revenue was down 53.8% on a year-over-year basis. Analysts predict that Resolute Energy Corp will post $0.49 earnings per share for the current fiscal year.
In related news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the business’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $0.51, for a total value of $5,100,000.00. The transaction was disclosed in a legal filing 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. Its properties are Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).
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