Resolute Energy Corp. (REN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Resolute Energy Corp. (NYSE:REN) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $29.00 target price on the oil and gas exploration company’s stock.
According to Zacks, “Resolute Energy Corporation, formerly Hicks Acquisition Company I, Inc. (HACI), is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties. The company operates producing properties in Utah, which were legacy properties acquired from two major oil companies, in connection with a strategic alliance with Navajo Nation Oil and Gas Company (wholly owned by the Navajo Nation) and in Wyoming and Oklahoma, which were acquired through the acquisition of a privately held oil and gas producer. In addition, Resolute owns exploration properties in Wyoming and Alabama. “
REN has been the topic of a number of other research reports. Northland Securities reissued an outperform rating and set a $35.00 target price (up previously from $12.00) on shares of Resolute Energy Corp. in a research report on Wednesday, September 7th. Wunderlich raised their target price on shares of Resolute Energy Corp. from $15.00 to $25.00 and gave the company a buy rating in a research report on Monday, August 22nd. Barclays PLC reissued an equal weight rating and set a $28.00 target price (up previously from $5.00) on shares of Resolute Energy Corp. in a research report on Friday, September 16th. Finally, Johnson Rice upgraded shares of Resolute Energy Corp. from an accumulate rating to a buy rating in a report on Monday, July 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $34.43.
Resolute Energy Corp. (NYSE:REN) opened at 29.68 on Tuesday. Resolute Energy Corp. has a 12-month low of $2.25 and a 12-month high of $31.05. The stock’s 50 day moving average is $21.93 and its 200 day moving average is $8.93. The stock’s market capitalization is $453.07 million.
Resolute Energy Corp. (NYSE:REN) last posted its 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 had revenue of $35.40 million for the quarter, compared to analyst estimates of $51.82 million. The business’s revenue for the quarter was down 26.9% on a year-over-year basis. During the same quarter last year, the business earned ($3.46) earnings per share. Equities analysts anticipate that Resolute Energy Corp. will post $0.72 EPS for the current fiscal year.
A hedge fund recently raised its stake in Resolute Energy Corp. stock. Spark Investment Management LLC raised its stake in shares of Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent disclosure with the SEC. 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 filing with the SEC. 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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