Equities Analysts Issue Forecasts for Resolute Energy Corp’s FY2017 Earnings (REN)
Resolute Energy Corp (NYSE:REN) – Equities research analysts at B. Riley issued their FY2017 earnings per share (EPS) estimates for Resolute Energy in a note issued to investors on Monday. B. Riley analyst R. Rashid anticipates that the oil and gas exploration company will post earnings per share of $0.85 for the year. B. Riley has a “Neutral” rating and a $39.00 price target on the stock. B. Riley also issued estimates for Resolute Energy’s Q4 2017 earnings at $0.71 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.66 EPS, FY2018 earnings at $4.35 EPS, Q1 2019 earnings at $1.93 EPS, Q2 2019 earnings at $1.87 EPS, Q3 2019 earnings at $1.92 EPS, Q4 2019 earnings at $2.09 EPS and FY2019 earnings at $7.81 EPS.
Several other brokerages have also issued reports on REN. Zacks Investment Research upgraded Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, January 16th. ValuEngine lowered Resolute Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. SunTrust Banks restated a “buy” rating on shares of Resolute Energy in a research note on Friday, November 10th. Barclays restated a “buy” rating and issued a $36.00 target price on shares of Resolute Energy in a research note on Sunday, December 24th. Finally, Goldman Sachs Group set a $37.00 target price on Resolute Energy and gave the company a “buy” rating in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.22.
Resolute Energy (NYSE:REN) last issued its earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.21). The business had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $86.76 million. Resolute Energy’s revenue for the quarter was up 72.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.24) EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of Resolute Energy in the second quarter valued at $168,000. Parametric Portfolio Associates LLC grew its position in shares of Resolute Energy by 6.7% in the second quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock valued at $223,000 after purchasing an additional 470 shares in the last quarter. Brown Advisory Inc. purchased a new position in shares of Resolute Energy in the third quarter valued at $233,000. UBS Asset Management Americas Inc. grew its position in shares of Resolute Energy by 63.0% in the second quarter. UBS Asset Management Americas Inc. now owns 8,800 shares of the oil and gas exploration company’s stock valued at $262,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Resolute Energy in the third quarter valued at $270,000.
In other news, Director James E. Duffy sold 1,000 shares of Resolute Energy stock in a transaction on Monday, December 11th. The stock was sold at an average price of $27.69, for a total value of $27,690.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Duffy sold 2,500 shares of Resolute Energy stock in a transaction on Monday, November 20th. The shares were sold at an average price of $27.99, for a total value of $69,975.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,999 shares of company stock valued at $559,458. 7.30% of the stock is owned by company insiders.
Resolute Energy 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).
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