Resolute Energy Corp. (REN) Trading 7.7% Higher
Resolute Energy Corp. (NYSE:REN) shares traded up 7.7% during trading on Friday . The stock traded as high as $7.90 and last traded at $7.71, with a volume of 2,378,195 shares traded. The stock had previously closed at $7.16.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Resolute Energy Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, May 17th. Johnson Rice raised shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a report on Monday, July 11th. Barclays PLC raised shares of Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $4.00 to $8.00 in a report on Wednesday. Wunderlich raised shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.00 to $8.00 in a report on Monday, July 11th. Finally, Northland Securities raised shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 11th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Resolute Energy Corp. currently has a consensus rating of “Hold” and an average target price of $5.82.
The company’s market cap is $117.39 million. The firm’s 50 day moving average price is $3.85 and its 200 day moving average price is $3.19.
Resolute Energy Corp. (NYSE:REN) last released 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 business had revenue of $19 million for the quarter, compared to analysts’ expectations of $50.68 million. The firm’s revenue was down 53.8% on a year-over-year basis. During the same quarter last year, the firm posted ($2.80) EPS. Equities research analysts expect that Resolute Energy Corp. will post $0.49 EPS for the current fiscal year.
In other Resolute Energy Corp. news, major shareholder Advisory Corp Spo sold 10,000,000 shares of the business’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $0.51, for a total value of $5,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
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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