Resolute Energy Corporation (NYSE:REN) Downgraded to Sell at BidaskClub
Resolute Energy Corporation (NYSE:REN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other equities analysts have also commented on the company. SunTrust Banks, Inc. initiated coverage on Resolute Energy Corporation in a report on Thursday, June 1st. They issued a “buy” rating and a $55.00 price target for the company. BMO Capital Markets set a $38.00 price target on Resolute Energy Corporation and gave the stock a “buy” rating in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) initiated coverage on Resolute Energy Corporation in a report on Monday, July 17th. They issued a “neutral” rating and a $34.00 price target for the company. Imperial Capital initiated coverage on Resolute Energy Corporation in a report on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Zacks Investment Research lowered Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.45.
Shares of Resolute Energy Corporation (REN) traded down 2.93% during trading on Tuesday, reaching $28.80. The company’s stock had a trading volume of 839,933 shares. The stock’s market cap is $634.69 million. Resolute Energy Corporation has a 52-week low of $6.42 and a 52-week high of $49.14. The stock has a 50-day moving average of $31.42 and a 200-day moving average of $39.30.
Resolute Energy Corporation (NYSE:REN) last posted its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. During the same period in the previous year, the business earned ($2.44) earnings per share. Resolute Energy Corporation’s revenue was up 100.8% on a year-over-year basis. Analysts predict that Resolute Energy Corporation will post $1.00 earnings per share for the current fiscal year.
In other Resolute Energy Corporation news, Director James E. Duffy sold 1,250 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $29.91, for a total transaction of $37,387.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Kemper White sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $42.32, for a total value of $465,520.00. The disclosure for this sale can be found here. Insiders sold 37,750 shares of company stock worth $1,532,578 in the last quarter. 7.30% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Resolute Energy Corporation by 2.6% in the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 79 shares during the last quarter. Northpointe Capital LLC purchased a new stake in Resolute Energy Corporation during the second quarter worth $152,000. Legal & General Group Plc purchased a new stake in Resolute Energy Corporation during the second quarter worth $168,000. Bank of America Corp DE increased its stake in Resolute Energy Corporation by 799.4% in the first quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 4,269 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in Resolute Energy Corporation during the first quarter worth $218,000. Institutional investors and hedge funds own 86.52% of the company’s stock.
About Resolute Energy Corporation
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 assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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