Resolute Energy Corp. (REN) Hits New 12-Month High at $5.37
Resolute Energy Corp. (NYSE:REN) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.37 and last traded at $5.30, with a volume of 2,635,546 shares traded. The stock had previously closed at $3.80.
Several research analysts recently issued reports on REN shares. Zacks Investment Research lowered Resolute Energy Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Northland Securities raised Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday. Barclays PLC lifted their price objective on Resolute Energy Corp. from $1.00 to $4.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 14th. Wunderlich raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $8.00 in a research report on Monday. Finally, Johnson Rice raised Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.57.
The company’s 50 day moving average price is $3.23 and its 200 day moving average price is $3.07. The stock’s market capitalization is $81.61 million.
Resolute Energy Corp. (NYSE:REN) last posted its earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $1.07. The firm had revenue of $19 million for the quarter, compared to the consensus estimate of $50.68 million. During the same period in the prior year, the company posted ($2.80) EPS. The company’s revenue for the quarter was down 53.8% compared to the same quarter last year. On average, equities research analysts anticipate that Resolute Energy Corp. will post ($0.13) earnings per share for the current fiscal year.
In other news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $0.51, for a total transaction of $5,100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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. The Company’s asset base consists primarily of properties in Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties), and the Powder River and Big Horn Basins in Wyoming (the Wyoming Properties).
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