Resolute Energy Corp. (REN) Shares Up 12.1%
Shares of Resolute Energy Corp. (NYSE:REN) shot up 12.1% on Tuesday . The stock traded as high as $19.67 and last traded at $19.52, with a volume of 4,653,426 shares trading hands. The stock had previously closed at $17.42.
Several research firms have weighed in on REN. Zacks Investment Research downgraded Resolute Energy Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Barclays PLC boosted their price target on Resolute Energy Corp. from $1.00 to $4.00 and gave the company an “underweight” rating in a research note on Tuesday, June 14th. Wunderlich upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.00 to $8.00 in a research note on Monday, July 11th. Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Finally, Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.00.
The stock’s 50-day moving average is $6.88 and its 200 day moving average is $3.95. The company’s market capitalization is $282.87 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $2.41. During the same period in the previous year, the business posted ($3.46) EPS. The company earned $35.40 million during the quarter, compared to analysts’ expectations of $51.82 million. The company’s revenue for the quarter was down 26.9% compared to the same quarter last year. Equities analysts expect 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).