Resolute Energy Corp. (REN) Shares Down 7.5%
Resolute Energy Corp. (NYSE:REN) shares traded down 7.5% on Monday . The stock traded as low as $7.00 and last traded at $7.07, with a volume of 332,665 shares. The stock had previously closed at $7.64.
Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Resolute Energy Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Johnson Rice raised shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Barclays PLC raised shares of Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.00 to $8.00 in a research note on Wednesday, July 13th. Wunderlich raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $8.00 in a research note on Monday, July 11th. Finally, Northland Securities raised shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Resolute Energy Corp. presently has a consensus rating of “Hold” and an average price target of $5.96.
The company’s market cap is $103.84 million. The company has a 50 day moving average of $4.66 and a 200 day moving average of $3.35.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $1.07. During the same period in the prior year, the company earned ($2.80) earnings per share. The firm earned $19 million during the quarter, compared to the consensus estimate of $50.68 million. Resolute Energy Corp.’s revenue for the quarter was down 53.8% compared to the same quarter last year. 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 company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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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