Resolute Energy Corp. (REN) Trading Up 3.6%
Resolute Energy Corp. (NYSE:REN) was up 3.6% on Friday . The company traded as high as $7.53 and last traded at $7.29, with a volume of 316,339 shares changing hands. The stock had previously closed at $7.04.
A number of equities research analysts have recently weighed in on REN shares. Northland Securities upgraded shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 11th. Barclays PLC raised shares of Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $4.00 to $8.00 in a research report on Wednesday, July 13th. Zacks Investment Research raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Thursday, July 14th. Johnson Rice raised shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Finally, Wunderlich raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $8.00 in a research report on Monday, July 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Resolute Energy Corp. presently has a consensus rating of “Hold” and an average target price of $5.96.
The company’s market capitalization is $116.33 million. The company’s 50 day moving average is $4.44 and its 200 day moving average is $3.32.
Resolute Energy Corp. (NYSE:REN) last posted 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 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. Resolute Energy Corp.’s quarterly revenue was down 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($2.80) earnings per share. On average, equities analysts forecast that Resolute Energy Corp. will post $0.49 EPS for the current fiscal year.
In related news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were 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 can be accessed through this link.
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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