Seaport Global Securities Weighs in on Resolute Energy Corporation’s Q3 2017 Earnings (REN)
Resolute Energy Corporation (NYSE:REN) – Seaport Global Securities increased their Q3 2017 earnings per share estimates for shares of Resolute Energy Corporation in a research report issued on Wednesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas exploration company will post earnings per share of $0.72 for the quarter, up from their previous estimate of $0.64. Seaport Global Securities also issued estimates for Resolute Energy Corporation’s Q4 2017 earnings at $0.99 EPS.
Resolute Energy Corporation (NYSE:REN) last posted its quarterly earnings data on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. During the same period in the prior year, the company earned ($2.44) EPS. The company’s revenue was up 100.8% compared to the same quarter last year. WARNING: This article was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/08/10/seaport-global-securities-weighs-in-on-resolute-energy-corporations-q3-2017-earnings-ren.html.
A number of other research analysts also recently weighed in on the company. Imperial Capital started coverage on Resolute Energy Corporation in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price objective on the stock. BMO Capital Markets dropped their price target on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a research report on Monday, July 17th. They issued a “neutral” rating and a $34.00 price target on the stock. Northland Securities set a $60.00 price target on Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, BidaskClub raised Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $43.45.
Shares of Resolute Energy Corporation (REN) opened at 29.38 on Thursday. The firm’s market cap is $647.48 million. Resolute Energy Corporation has a 52-week low of $10.83 and a 52-week high of $49.14. The company’s 50-day moving average is $30.96 and its 200-day moving average is $38.74.
Several hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC purchased a new stake in shares of Resolute Energy Corporation during the fourth quarter valued at $464,000. Norges Bank purchased a new stake in shares of Resolute Energy Corporation during the fourth quarter valued at $2,416,000. Nationwide Fund Advisors purchased a new stake in shares of Resolute Energy Corporation during the first quarter valued at $432,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Resolute Energy Corporation during the first quarter valued at $405,000. Finally, First Mercantile Trust Co. purchased a new stake in shares of Resolute Energy Corporation during the first quarter valued at $292,000. 86.52% of the stock is currently owned by institutional investors.
In other news, Director James E. Duffy sold 1,250 shares of Resolute Energy Corporation stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $29.91, for a total transaction of $37,387.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James E. Duffy sold 3,000 shares of Resolute Energy Corporation stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $30.69, for a total value of $92,070.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,750 shares of company stock worth $1,532,578 in the last three months. 7.30% of the stock is owned by insiders.
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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