Resolute Energy Corp. (REN) Now Covered by Rodman & Renshaw
Equities researchers at Rodman & Renshaw started coverage on shares of Resolute Energy Corp. (NYSE:REN) in a research report issued on Wednesday. The firm set a “buy” rating and a $32.00 price target on the oil and gas exploration company’s stock. Rodman & Renshaw’s price target would indicate a potential upside of 7.82% from the company’s previous close.
REN has been the topic of several other research reports. Northland Securities reissued an “outperform” rating and issued a $35.00 target price (up previously from $12.00) on shares of Resolute Energy Corp. in a research note on Wednesday, September 7th. Wunderlich raised their price target on shares of Resolute Energy Corp. from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Barclays PLC reaffirmed an “equal weight” rating and issued a $28.00 price target (up previously from $5.00) on shares of Resolute Energy Corp. in a research note on Friday, September 16th. Zacks Investment Research downgraded shares of Resolute Energy Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Finally, Johnson Rice raised shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Resolute Energy Corp. has an average rating of “Buy” and an average target price of $34.43.
Shares of Resolute Energy Corp. (NYSE:REN) opened at 29.68 on Wednesday. The company’s market cap is $453.07 million. Resolute Energy Corp. has a 1-year low of $2.25 and a 1-year high of $31.05. The company’s 50-day moving average is $21.93 and its 200 day moving average is $8.93.
Resolute Energy Corp. (NYSE:REN) last announced its earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $2.41. The firm had revenue of $35.40 million for the quarter, compared to analyst estimates of $51.82 million. During the same quarter in the prior year, the company posted ($3.46) earnings per share. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. Equities analysts anticipate that Resolute Energy Corp. will post $0.72 EPS for the current year.
A hedge fund recently bought a new stake in Resolute Energy Corp. stock. JPMorgan Chase & Co. bought a new position in shares of Resolute Energy Corp. (NYSE:REN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 565,882 shares of the oil and gas exploration company’s stock, valued at approximately $1,681,000. JPMorgan Chase & Co. owned 3.72% of Resolute Energy Corp. at the end of the most recent reporting period. 39.98% of the stock is owned by institutional investors.
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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