Resolute Energy Corp. (REN) Stock Price Down 7.9%
Resolute Energy Corp. (NYSE:REN) fell 7.9% during trading on Monday . The stock traded as low as $6.23 and last traded at $6.33, with a volume of 244,220 shares trading hands. The stock had previously closed at $6.87.
Several brokerages recently commented on REN. Zacks Investment Research upgraded shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Thursday, July 14th. Barclays PLC upgraded shares of Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $4.00 to $8.00 in a research report on Wednesday, July 13th. Johnson Rice upgraded shares of Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Northland Securities upgraded shares of Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 11th. Finally, Wunderlich upgraded shares of Resolute Energy Corp. from a “hold” rating to a “buy” rating and increased their target price for the stock from $4.00 to $8.00 in a research report on Monday, July 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Resolute Energy Corp. has a consensus rating of “Hold” and a consensus target price of $5.96.
The company has a 50-day moving average of $5.09 and a 200 day moving average of $3.46. The firm’s market cap is $91.16 million.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings results on Monday, May 9th. The oil and gas exploration company reported ($1.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company’s quarterly revenue was down 53.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.80) earnings per share. Equities research analysts forecast that Resolute Energy Corp. will post $0.49 earnings per share for the current year.
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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