Resolute Energy Corp. (REN) Coverage Initiated by Analysts at Seaport Global Securities
Seaport Global Securities assumed coverage on shares of Resolute Energy Corp. (NYSE:REN) in a research report report published on Wednesday morning. The brokerage issued a buy rating and a $45.00 target price on the oil and gas exploration company’s stock.
REN has been the topic of several other reports. Johnson Rice raised Resolute Energy Corp. from an accumulate rating to a buy rating in a research note on Monday, July 11th. Zacks Investment Research raised Resolute Energy Corp. from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research note on Tuesday, August 16th. Barclays PLC raised Resolute Energy Corp. from an underweight rating to an equal weight rating and boosted their price objective for the stock from $4.00 to $8.00 in a research note on Wednesday, July 13th. Wunderlich raised Resolute Energy Corp. from a hold rating to a buy rating and boosted their price objective for the stock from $4.00 to $8.00 in a research note on Monday, July 11th. Finally, 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 note on Wednesday, September 7th. 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 a consensus price target of $34.43.
Shares of Resolute Energy Corp. (NYSE:REN) traded down 1.24% on Wednesday, hitting $30.32. The stock had a trading volume of 1,174,507 shares. The company’s market cap is $462.83 million. The company has a 50-day moving average of $21.60 and a 200-day moving average of $8.78. Resolute Energy Corp. has a 52-week low of $2.25 and a 52-week high of $31.05.
Resolute Energy Corp. (NYSE:REN) last issued its earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $2.41. The firm earned $35.40 million during the quarter, compared to analysts’ expectations of $51.82 million. During the same quarter last year, the business earned ($3.46) earnings per share. The company’s revenue was down 26.9% on a year-over-year basis. On average, equities analysts anticipate that Resolute Energy Corp. will post $1.04 EPS for the current fiscal year.
An institutional investor recently raised its position in Resolute Energy Corp. stock. Spark Investment Management LLC boosted its position in shares of Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 about 0.66% of Resolute Energy Corp. worth $255,000 at the end of the most recent reporting period. 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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