Resolute Energy Corp. (REN) Stock Price Down 7.5%
Resolute Energy Corp. (NYSE:REN) shares were down 7.5% during mid-day trading on Monday . The company traded as low as $7.00 and last traded at $7.07, with a volume of 332,665 shares trading hands. The stock had previously closed at $7.64.
A number of research analysts have recently issued reports on REN shares. Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Wunderlich upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $4.00 to $8.00 in a research report on Monday, July 11th. Zacks Investment Research upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Thursday, July 14th. Barclays PLC raised Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $4.00 to $8.00 in a research note on Wednesday, July 13th. Finally, Northland Securities raised 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 given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $5.96.
The stock has a 50 day moving average price of $4.44 and a 200 day moving average price of $3.32. The company’s market capitalization is $106.13 million.
Resolute Energy Corp. (NYSE:REN) last released its quarterly earnings data 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. During the same period in the previous year, the company posted ($2.80) earnings per share. The firm earned $19 million during the quarter, compared to analyst estimates of $50.68 million. The firm’s quarterly revenue was down 53.8% on a year-over-year basis. On average, analysts anticipate that Resolute Energy Corp. will post $0.49 earnings per share for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the firm’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $0.51, for a total transaction of $5,100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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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