Resolute Energy Corp. (REN) Receives “Buy” Rating from Wunderlich
Wunderlich reaffirmed their buy rating on shares of Resolute Energy Corp. (NYSE:REN) in a research note released on Thursday. Wunderlich currently has a $40.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $25.00.
Other research analysts have also issued research reports about the company. HC Wainwright began coverage on Resolute Energy Corp. in a research report on Wednesday. They set a buy rating and a $32.00 price target for the company. Barclays PLC raised Resolute Energy Corp. from an underweight rating to an equal weight rating and upped their price target for the company from $4.00 to $8.00 in a research report on Wednesday, July 13th. Zacks Investment Research lowered Resolute Energy Corp. from a buy rating to a hold rating in a research report on Friday, July 15th. Seaport Global Securities started coverage on Resolute Energy Corp. in a research report on Wednesday. They issued a buy rating and a $45.00 target price for the company. Finally, Rodman & Renshaw started coverage on Resolute Energy Corp. in a research report on Wednesday. They issued a buy rating and a $32.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $34.43.
Shares of Resolute Energy Corp. (NYSE:REN) traded down 1.95% during mid-day trading on Thursday, reaching $29.10. The company had a trading volume of 569,624 shares. Resolute Energy Corp. has a one year low of $2.25 and a one year high of $31.05. The company’s market capitalization is $444.21 million. The company has a 50 day moving average price of $21.93 and a 200 day moving average price of $8.93.
Resolute Energy Corp. (NYSE:REN) last released its quarterly earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $2.41. The business earned $35.40 million during the quarter, compared to analyst estimates of $51.82 million. Resolute Energy Corp.’s revenue was down 26.9% compared to the same quarter last year. During the same period last year, the firm earned ($3.46) earnings per share. On average, analysts anticipate that Resolute Energy Corp. will post $0.72 EPS for the current year.
A hedge fund recently raised its stake in Resolute Energy Corp. stock. Spark Investment Management LLC raised its position in Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent disclosure 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 about 0.66% of Resolute Energy Corp. worth $255,000 as of its most recent SEC filing. 39.98% of the stock is currently 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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