Resolute Energy Corp. (REN) Downgraded by Vetr Inc.
Resolute Energy Corp. (NYSE:REN) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $36.33 price objective on the oil and gas exploration company’s stock. Vetr‘s target price would suggest a potential upside of 9.82% from the stock’s current price.
Several other equities research analysts also recently weighed in on the company. Northland Securities upgraded Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, July 11th. Wunderlich upped their price target on Resolute Energy Corp. from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, August 16th. Rodman & Renshaw initiated coverage on Resolute Energy Corp. in a report on Wednesday, October 5th. They set a “buy” rating and a $32.00 price target on the stock. Finally, Barclays PLC upgraded Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $4.00 to $8.00 in a report on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $34.67.
Shares of Resolute Energy Corp. (NYSE:REN) traded up 2.61% on Monday, hitting $33.08. The stock had a trading volume of 981,942 shares. Resolute Energy Corp. has a 52-week low of $2.25 and a 52-week high of $33.17. The firm’s 50-day moving average price is $24.45 and its 200 day moving average price is $10.37. The firm’s market cap is $504.97 million.
Resolute Energy Corp. (NYSE:REN) last issued its quarterly earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $2.41. The business earned $35.40 million during the quarter, compared to the consensus estimate of $51.82 million. During the same quarter last year, the business posted ($3.46) EPS. Resolute Energy Corp.’s revenue for the quarter was down 26.9% compared to the same quarter last year. On average, equities research analysts predict that Resolute Energy Corp. will post $0.72 EPS for the current year.
An institutional investor recently bought a new position in Resolute Energy Corp. stock. JPMorgan Chase & Co. bought a new position in shares of Resolute Energy Corp. (NYSE:REN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 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. at the end of the most recent reporting period. Institutional investors and hedge funds own 40.00% 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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