HC Wainwright Begins Coverage on Resolute Energy Corp. (REN)
HC Wainwright assumed coverage on shares of Resolute Energy Corp. (NYSE:REN) in a research note released on Wednesday. The brokerage issued a buy rating and a $32.00 price target on the oil and gas exploration company’s stock.
Several other equities analysts have also commented on the company. Seaport Global Securities assumed coverage on Resolute Energy Corp. in a report on Wednesday, October 5th. They issued a buy rating and a $45.00 target price on the stock. Rodman & Renshaw assumed coverage on Resolute Energy Corp. in a report on Wednesday, October 5th. They issued a buy rating and a $32.00 target price on the stock. Zacks Investment Research raised Resolute Energy Corp. from a hold rating to a buy rating and set a $29.00 target price on the stock in a report on Tuesday, October 4th. Barclays PLC reissued an equal weight rating and issued a $28.00 target price (up previously from $5.00) on shares of Resolute Energy Corp. in a report on Friday, September 16th. Finally, 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 report on Wednesday, September 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $34.43.
Shares of Resolute Energy Corp. (NYSE:REN) traded up 3.02% during mid-day trading on Wednesday, reaching $30.40. The company’s stock had a trading volume of 322,453 shares. The company’s 50-day moving average is $22.26 and its 200-day moving average is $9.12. Resolute Energy Corp. has a 52 week low of $2.25 and a 52 week high of $31.05. The stock’s market capitalization is $464.06 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 the consensus estimate of ($0.03) by $2.41. The company earned $35.40 million during the quarter, compared to analysts’ expectations of $51.82 million. Resolute Energy Corp.’s revenue was down 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.46) earnings per share. Equities analysts predict 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 stake in 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 reporting period. Institutional investors own 39.98% of the company’s stock.
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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