Resolute Energy Corp. (REN) Receives “Buy” Rating from Wunderlich
Wunderlich reaffirmed their buy rating on shares of Resolute Energy Corp. (NYSE:REN) in a report published on Thursday. The brokerage currently has a $40.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $25.00.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Resolute Energy Corp. from a hold rating to a buy rating and set a $19.00 price objective for the company in a report on Tuesday, August 16th. Seaport Global Securities started coverage on Resolute Energy Corp. in a report on Wednesday. They set a buy rating and a $45.00 price objective for the company. Rodman & Renshaw started coverage on Resolute Energy Corp. in a report on Wednesday. They set a buy rating and a $32.00 price objective for the company. Johnson Rice raised Resolute Energy Corp. from an accumulate rating to a buy rating in a report on Monday, July 11th. Finally, HC Wainwright started coverage on Resolute Energy Corp. in a report on Wednesday. They set a buy rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $34.43.
Resolute Energy Corp. (NYSE:REN) traded down 1.95% during mid-day trading on Thursday, hitting $29.10. 569,624 shares of the stock were exchanged. Resolute Energy Corp. has a 12-month low of $2.25 and a 12-month high of $31.05. The stock’s market capitalization is $444.21 million. The firm has a 50-day moving average price of $21.93 and a 200-day moving average price of $8.93.
Resolute Energy Corp. (NYSE:REN) last released 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 the Zacks’ consensus estimate of ($0.03) by $2.41. The company earned $35.40 million during the quarter, compared to analyst estimates of $51.82 million. During the same period last year, the company earned ($3.46) earnings per share. The firm’s revenue was down 26.9% compared to the same quarter last year. Equities analysts predict that Resolute Energy Corp. will post $0.72 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Resolute Energy Corp. stock. JPMorgan Chase & Co. bought a new stake in shares of Resolute Energy Corp. (NYSE:REN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 565,882 shares of the oil and gas exploration company’s stock, valued at approximately $1,681,000. JPMorgan Chase & Co. owned 3.72% of Resolute Energy Corp. as of its most recent SEC filing. 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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