Resolute Energy Corp. (REN) Coverage Initiated by Analysts at Seaport Global Securities
Seaport Global Securities assumed coverage on shares of Resolute Energy Corp. (NYSE:REN) in a research note released on Wednesday. The firm issued a buy rating and a $45.00 target price on the oil and gas exploration company’s stock.
A number of other brokerages have also weighed in on REN. Wunderlich raised their price target on shares of Resolute Energy Corp. from $8.00 to $15.00 and gave the company a buy rating in a research note on Wednesday, August 10th. Zacks Investment Research lowered shares of Resolute Energy Corp. from a buy rating to a hold rating in a research note on Friday, July 15th. 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. Rodman & Renshaw started coverage on shares of Resolute Energy Corp. in a research note on Wednesday. They issued a buy rating and a $32.00 price target on the stock. Finally, Barclays PLC reaffirmed an equal weight rating and issued a $28.00 price target (up from $5.00) on shares of Resolute Energy Corp. in a research note on Friday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $34.43.
Shares of Resolute Energy Corp. (NYSE:REN) traded down 1.24% during mid-day trading on Wednesday, hitting $30.32. The company had a trading volume of 1,174,507 shares. Resolute Energy Corp. has a 52-week low of $2.25 and a 52-week high of $31.05. The firm has a 50-day moving average price of $21.60 and a 200 day moving average price of $8.78. The firm’s market capitalization is $462.83 million.
Resolute Energy Corp. (NYSE:REN) last issued its quarterly earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $2.41. The company had revenue of $35.40 million for the quarter, compared to analysts’ expectations of $51.82 million. The company’s quarterly revenue was down 26.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.46) earnings per share. Analysts expect that Resolute Energy Corp. will post $1.04 earnings per share for the current year.
A hedge fund recently raised its stake in Resolute Energy Corp. stock. Spark Investment Management LLC raised its position in shares of Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,100 shares of the oil and gas exploration company’s stock after buying an additional 434,842 shares during the period. Spark Investment Management LLC owned approximately 0.66% of Resolute Energy Corp. worth $255,000 at the end of the most recent quarter. 39.98% of the stock is owned by institutional investors and hedge funds.
About Resolute Energy Corp.
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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