Resolute Energy Corp. (REN) Sees Large Volume Increase
Resolute Energy Corp. (NYSE:REN) saw unusually-strong trading volume on Tuesday . Approximately 4,249,281 shares traded hands during mid-day trading, an increase of 177% from the previous session’s volume of 1,533,648 shares.The stock last traded at $10.05 and had previously closed at $8.35.
A number of analysts recently commented on REN shares. Johnson Rice raised Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Wunderlich raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $4.00 to $8.00 in a research note on Monday, July 11th. Zacks Investment Research raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Thursday, July 14th. Barclays PLC raised Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $4.00 to $8.00 in a research note on Wednesday, July 13th. Finally, Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.96.
The firm’s 50-day moving average is $5.88 and its 200 day moving average is $3.68. The company’s market capitalization is $190.43 million.
Resolute Energy Corp. (NYSE:REN) last released its earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $2.41. The firm earned $35.40 million during the quarter, compared to analysts’ expectations of $51.82 million. During the same quarter in the prior year, the company posted ($3.46) earnings per share. The business’s revenue was down 26.9% on a year-over-year basis. Analysts anticipate that Resolute Energy Corp. will post $0.49 EPS for the current fiscal 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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