Resolute Energy Corp. (REN) Rating Reiterated by Wells Fargo & Co.
Resolute Energy Corp. (NYSE:REN)‘s stock had its “hold” rating reissued by analysts at Wells Fargo & Co. in a research note issued to investors on Wednesday.
Several other equities analysts also recently weighed in on REN. Barclays PLC raised Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $4.00 to $8.00 in a research report on Wednesday, July 13th. Zacks Investment Research raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Thursday, July 14th. Wunderlich raised their price target on Resolute Energy Corp. from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Northland Securities reaffirmed an “outperform” rating and issued a $35.00 price objective (up previously from $12.00) on shares of Resolute Energy Corp. in a research report on Wednesday, September 7th. Finally, Rodman & Renshaw began coverage on Resolute Energy Corp. in a research report on Wednesday, October 5th. They issued a “buy” rating and a $32.00 price objective for the company. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $34.49.
Resolute Energy Corp. (NYSE:REN) opened at 28.01 on Wednesday. The company’s 50-day moving average price is $27.47 and its 200 day moving average price is $13.40. Resolute Energy Corp. has a 1-year low of $2.25 and a 1-year high of $33.84. The firm’s market cap is $427.57 million.
Resolute Energy Corp. (NYSE:REN) last released its quarterly earnings results on Monday, November 7th. The oil and gas exploration company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of $0.29 by $1.53. The business earned $47.42 million during the quarter, compared to the consensus estimate of $63.08 million. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the firm earned ($2.44) earnings per share. On average, equities analysts expect that Resolute Energy Corp. will post ($7.02) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of REN. Acadian Asset Management LLC purchased a new position in shares of Resolute Energy Corp. during the third quarter worth $112,000. Acrospire Investment Management LLC boosted its position in shares of Resolute Energy Corp. by 125.0% in the third quarter. Acrospire Investment Management LLC now owns 4,500 shares of the oil and gas exploration company’s stock worth $117,000 after buying an additional 2,500 shares in the last quarter. BlackRock Group LTD bought a new position in shares of Resolute Energy Corp. during the third quarter worth approximately $140,000. Northern Trust Corp boosted its position in shares of Resolute Energy Corp. by 13.8% in the third quarter. Northern Trust Corp now owns 26,221 shares of the oil and gas exploration company’s stock worth $683,000 after buying an additional 3,188 shares in the last quarter. Finally, Parkwood LLC bought a new position in shares of Resolute Energy Corp. during the third quarter worth approximately $1,078,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.
About Resolute Energy Corp.
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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