FY2017 EPS Estimates for Resolute Energy Corporation (REN) Cut by Analyst
Resolute Energy Corporation (NYSE:REN) – Stock analysts at Imperial Capital lowered their FY2017 earnings per share estimates for Resolute Energy Corporation in a research note issued to investors on Wednesday. Imperial Capital analyst J. Wangler now forecasts that the oil and gas exploration company will post earnings of $0.33 per share for the year, down from their previous forecast of $0.34. Imperial Capital currently has a “Buy” rating and a $50.00 price target on the stock. Imperial Capital also issued estimates for Resolute Energy Corporation’s Q4 2017 earnings at $0.29 EPS, Q1 2018 earnings at $0.48 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.78 EPS, Q4 2018 earnings at $1.08 EPS and FY2018 earnings at $3.01 EPS.
Several other equities research analysts also recently issued reports on REN. BidaskClub downgraded shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 12th. BMO Capital Markets set a $35.00 price target on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 16th. ValuEngine downgraded shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. Finally, KLR Group reaffirmed a “buy” rating and set a $64.00 price target (up previously from $60.00) on shares of Resolute Energy Corporation in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $46.98.
Resolute Energy Corporation (NYSE REN) traded up $1.07 during trading on Friday, reaching $27.67. 524,033 shares of the company traded hands, compared to its average volume of 745,473. Resolute Energy Corporation has a 12-month low of $23.64 and a 12-month high of $49.14. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of -8.75.
Resolute Energy Corporation (NYSE:REN) last posted its earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.21). The company had revenue of $81.60 million for the quarter, compared to analyst estimates of $86.76 million. The company’s quarterly revenue was up 72.2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.24) EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in REN. Wells Fargo & Company MN increased its position in shares of Resolute Energy Corporation by 2.6% in the 1st quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after purchasing an additional 79 shares during the last quarter. Northpointe Capital LLC bought a new stake in shares of Resolute Energy Corporation during the 2nd quarter valued at about $152,000. Legal & General Group Plc bought a new stake in shares of Resolute Energy Corporation during the 2nd quarter valued at about $168,000. Bank of America Corp DE grew its position in shares of Resolute Energy Corporation by 799.4% during the 1st quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock valued at $194,000 after buying an additional 4,269 shares during the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Resolute Energy Corporation during the 1st quarter valued at about $218,000. 93.45% of the stock is owned by institutional investors.
In other news, Director James E. Duffy sold 2,500 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total value of $76,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.30% of the stock is currently 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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