FY2016 EPS Estimates for Resolute Energy Corp. Cut by Analyst (REN)
Resolute Energy Corp. (NYSE:REN) – Capital One Financial Corp. cut their FY2016 earnings estimates for shares of Resolute Energy Corp. in a research report issued on Wednesday. Capital One Financial Corp. analyst R. Tullis now expects that the brokerage will post earnings per share of $0.60 for the year, down from their previous forecast of $0.78. Capital One Financial Corp. also issued estimates for Resolute Energy Corp.’s Q4 2016 earnings at $0.20 EPS and FY2017 earnings at ($1.28) EPS.
Resolute Energy Corp. (NYSE:REN) last posted its quarterly earnings data on Monday, August 8th. The oil and gas exploration company reported ($2.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $2.41. The company earned $35.40 million during the quarter, compared to analysts’ expectations of $51.82 million. During the same period in the prior year, the company posted ($3.46) earnings per share. The business’s revenue was down 26.9% compared to the same quarter last year.
REN has been the topic of several other reports. Northland Securities reiterated an “outperform” rating and issued a $35.00 target price (up from $12.00) on shares of Resolute Energy Corp. in a research note on Wednesday, September 7th. Wunderlich lifted their target price on Resolute Energy Corp. from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. Barclays PLC reiterated an “equal weight” rating and issued a $28.00 target price (up from $5.00) on shares of Resolute Energy Corp. in a research note on Friday, September 16th. Zacks Investment Research downgraded Resolute Energy Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Finally, Johnson Rice upgraded Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research note on Monday, July 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $34.43.
Resolute Energy Corp. (NYSE:REN) opened at 29.51 on Friday. The company has a 50-day moving average price of $22.26 and a 200 day moving average price of $9.12. Resolute Energy Corp. has a 1-year low of $2.25 and a 1-year high of $31.05. The firm’s market capitalization is $450.47 million.
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 about 0.66% of Resolute Energy Corp. worth $255,000 as of its most recent SEC filing. 39.98% of the stock is owned by institutional investors.
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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