Resolute Energy Corp. (REN) Earns Buy Rating from Analysts at Rodman & Renshaw
Stock analysts at Rodman & Renshaw began coverage on shares of Resolute Energy Corp. (NYSE:REN) in a report released on Wednesday. The firm set a “buy” rating and a $32.00 price target on the oil and gas exploration company’s stock. Rodman & Renshaw’s price objective would indicate a potential upside of 24.61% from the company’s current price.
A number of other equities analysts also recently commented on the company. Zacks Investment Research raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday. Barclays PLC reissued an “equal weight” rating and set a $28.00 price objective (up from $5.00) on shares of Resolute Energy Corp. in a research report on Friday, September 16th. Northland Securities reissued an “outperform” rating and set a $35.00 price objective (up from $12.00) on shares of Resolute Energy Corp. in a research report on Wednesday, September 7th. Wunderlich boosted their price objective on Resolute Energy Corp. from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. Finally, Johnson Rice raised Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $29.80.
Resolute Energy Corp. (NYSE:REN) opened at 25.68 on Wednesday. The stock’s market capitalization is $392.01 million. The company has a 50 day moving average of $21.24 and a 200 day moving average of $8.62. Resolute Energy Corp. has a 12 month low of $2.25 and a 12 month high of $26.50.
Resolute Energy Corp. (NYSE:REN) last issued its quarterly earnings data on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $2.41. The company earned $35.40 million during the quarter, compared to analysts’ expectations of $51.82 million. The company’s revenue was down 26.9% on a year-over-year basis. During the same period last year, the firm earned ($3.46) earnings per share. On average, equities analysts predict that Resolute Energy Corp. will post $1.04 EPS for the current year.
An institutional investor recently bought a new position in Resolute Energy Corp. stock. JPMorgan Chase & Co. purchased a new stake in Resolute Energy Corp. (NYSE:REN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 565,882 shares of the oil and gas exploration company’s stock, valued at approximately $1,681,000. JPMorgan Chase & Co. owned about 3.72% of Resolute Energy Corp. as of its most recent filing with the SEC. Hedge funds and other institutional investors own 39.98% of the company’s stock.
Resolute Energy Corp. 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. Its properties are Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).
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