Resolute Energy Corp. (REN) Trading 12.1% Higher
Resolute Energy Corp. (NYSE:REN)’s share price shot up 12.1% during trading on Tuesday . The stock traded as high as $19.67 and last traded at $19.52, with a volume of 4,653,426 shares traded. The stock had previously closed at $17.42.
Several brokerages recently commented on REN. Zacks Investment Research raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday. Wunderlich upped their price target on shares of Resolute Energy Corp. from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Barclays PLC raised shares of Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $4.00 to $8.00 in a research report on Wednesday, July 13th. Northland Securities raised shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 11th. Finally, Johnson Rice raised shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $14.00.
The stock has a 50 day moving average of $7.74 and a 200-day moving average of $4.16. The firm’s market capitalization is $274.01 million.
Resolute Energy Corp. (NYSE:REN) last released its earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $2.41. During the same quarter in the previous year, the firm posted ($3.46) EPS. The business had revenue of $35.40 million for the quarter, compared to the consensus estimate of $51.82 million. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. On average, equities research analysts forecast that Resolute Energy Corp. will post $0.49 EPS for the current fiscal year.
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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