Resolute Energy Corp. (REN) Now Covered by Analysts at HC Wainwright
Equities research analysts at HC Wainwright began coverage on shares of Resolute Energy Corp. (NYSE:REN) in a report issued on Wednesday. The brokerage set a “buy” rating and a $32.00 price target on the oil and gas exploration company’s stock. HC Wainwright’s price target indicates a potential upside of 24.61% from the stock’s previous close.
A number of other research analysts also recently commented on REN. Barclays PLC increased their price objective on Resolute Energy Corp. from $1.00 to $4.00 and gave the company an “underweight” rating in a report on Tuesday, June 14th. Wunderlich upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.00 to $8.00 in a report on Monday, July 11th. Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 11th. Finally, Zacks Investment Research upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $32.29.
Shares of Resolute Energy Corp. (NYSE:REN) traded up 14.56% on Wednesday, reaching $29.42. The company’s stock had a trading volume of 3,974,992 shares. Resolute Energy Corp. has a 1-year low of $2.25 and a 1-year high of $30.70. The company’s market capitalization is $449.10 million. The stock has a 50-day moving average price of $21.24 and a 200-day moving average price of $8.62.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings results 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 business earned $35.40 million during the quarter, compared to the consensus estimate of $51.82 million. Resolute Energy Corp.’s quarterly revenue was down 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.46) earnings per share. On average, equities research analysts forecast that Resolute Energy Corp. will post $1.04 EPS for the current year.
A hedge fund recently raised its stake in Resolute Energy Corp. stock. Spark Investment Management LLC increased its position in Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 500,100 shares of the oil and gas exploration company’s stock after buying an additional 434,842 shares during the period. Spark Investment Management LLC owned 0.66% of Resolute Energy Corp. worth $255,000 as of its most recent filing with the SEC. 39.98% of the stock is owned by institutional investors and hedge funds.
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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