Resolute Energy Corp (NYSE:REN)’s share price dropped 9.3% during mid-day trading on Thursday . The stock traded as low as $31.10 and last traded at $31.84. Approximately 1,102,879 shares changed hands during trading, an increase of 107% from the average daily volume of 533,480 shares. The stock had previously closed at $35.11.

Separately, ValuEngine raised shares of Resolute Energy from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $39.14.

The firm has a market cap of $875.92 million, a PE ratio of 543.33 and a beta of 3.35. The company has a debt-to-equity ratio of -8.08, a quick ratio of 0.35 and a current ratio of 0.35.

Resolute Energy (NYSE:REN) last announced its quarterly earnings results on Monday, August 6th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.26). Resolute Energy had a negative net margin of 10.99% and a negative return on equity of 16.12%. The firm had revenue of $73.38 million for the quarter, compared to analyst estimates of $76.24 million. During the same period last year, the firm posted $0.47 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Resolute Energy Corp will post 2.19 earnings per share for the current fiscal year.

In related news, Director James E. Duffy sold 1,000 shares of Resolute Energy stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $30.54, for a total transaction of $30,540.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 2,328 shares of company stock valued at $73,015. Corporate insiders own 11.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of REN. LPL Financial LLC bought a new stake in shares of Resolute Energy during the first quarter valued at about $247,000. Fondren Management LP bought a new stake in shares of Resolute Energy during the second quarter valued at about $624,000. Brown Advisory Inc. raised its stake in shares of Resolute Energy by 90.1% during the first quarter. Brown Advisory Inc. now owns 18,805 shares of the oil and gas exploration company’s stock valued at $652,000 after purchasing an additional 8,911 shares in the last quarter. Sei Investments Co. raised its stake in shares of Resolute Energy by 1,429.1% during the first quarter. Sei Investments Co. now owns 24,665 shares of the oil and gas exploration company’s stock valued at $854,000 after purchasing an additional 23,052 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Resolute Energy during the first quarter valued at about $907,000.

Resolute Energy Company Profile (NYSE:REN)

Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. Its principal project area is located in the Delaware Basin portion of the Permian Basin, Reeves County. As of December 31, 2017, it had interests in approximately 27,100 gross acres located in the Permian Basin of Texas; and its estimated net proved reserves were approximately 53.4 million barrels of oil equivalent.

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