Resolute Energy Corporation (REN) Stock Price Down 10.1%
Resolute Energy Corporation (NYSE:REN)’s share price was down 10.1% during mid-day trading on Tuesday . The stock traded as low as $26.27 and last traded at $26.64. Approximately 1,162,608 shares changed hands during trading, an increase of 50% from the average daily volume of 774,462 shares. The stock had previously closed at $29.63.
Several equities analysts recently issued reports on REN shares. SunTrust Banks, Inc. started coverage on Resolute Energy Corporation in a report on Thursday, June 1st. They set a “buy” rating and a $55.00 price objective for the company. BMO Capital Markets reduced their price objective on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) started coverage on Resolute Energy Corporation in a report on Monday, July 17th. They set a “neutral” rating and a $34.00 price objective for the company. ValuEngine cut Resolute Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Imperial Capital started coverage on Resolute Energy Corporation in a report on Tuesday, July 18th. They set an “outperform” rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $43.45.
The company’s market capitalization is $604.14 million. The firm has a 50-day moving average price of $30.01 and a 200-day moving average price of $36.23.
Resolute Energy Corporation (NYSE:REN) last posted its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. The company’s quarterly revenue was up 100.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.44) earnings per share. Equities analysts anticipate that Resolute Energy Corporation will post $0.90 EPS for the current year.
In other Resolute Energy Corporation news, Director James E. Duffy sold 1,250 shares of the stock in a transaction on Monday, June 26th. The shares were 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 available through this hyperlink. Also, Director James E. Duffy sold 3,000 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $30.69, for a total transaction of $92,070.00. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of REN. Nationwide Fund Advisors acquired a new position in Resolute Energy Corporation during the first quarter worth $432,000. Wells Fargo & Company MN increased its position in Resolute Energy Corporation by 2.6% during 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. Capital Fund Management S.A. acquired a new position in Resolute Energy Corporation during the first quarter worth $1,202,000. UBS Asset Management Americas Inc. acquired a new position in Resolute Energy Corporation during the first quarter worth $218,000. Finally, Beddow Capital Management Inc. increased its position in Resolute Energy Corporation by 102.8% during the first quarter. Beddow Capital Management Inc. now owns 14,550 shares of the oil and gas exploration company’s stock worth $588,000 after buying an additional 7,375 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.
Resolute Energy Corporation Company Profile
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).