Resolute Energy Corp. Forecasted to Earn Q1 2017 Earnings of $0.11 Per Share (REN)
Resolute Energy Corp. (NYSE:REN) – Equities researchers at Seaport Global Securities upped their Q1 2017 EPS estimates for Resolute Energy Corp. in a research report issued on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the brokerage will post earnings per share of $0.11 for the quarter, up from their previous forecast of ($0.12). Seaport Global Securities has a “Buy” rating and a $45.00 price objective on the stock. Seaport Global Securities also issued estimates for Resolute Energy Corp.’s Q2 2017 earnings at $0.29 EPS, Q3 2017 earnings at $0.49 EPS, Q4 2017 earnings at $0.67 EPS and FY2017 earnings at $1.56 EPS.
Resolute Energy Corp. (NYSE:REN) last released its earnings results on Monday, November 7th. The oil and gas exploration company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $1.53. The firm 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 quarter in the prior year, the business posted ($2.44) earnings per share.
REN has been the topic of a number of other reports. 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. Vetr upgraded Resolute Energy Corp. from a “buy” rating to a “strong-buy” rating and set a $34.90 price target on the stock in a report on Monday, October 24th. Northland Securities reiterated an “outperform” rating and set a $35.00 price target (up from $12.00) on shares of Resolute Energy Corp. in a report on Wednesday, September 7th. Wells Fargo & Co. reiterated a “hold” rating on shares of Resolute Energy Corp. in a report on Wednesday, November 9th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $28.00 price target (up from $5.00) on shares of Resolute Energy Corp. in a report on Friday, September 16th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $34.49.
Resolute Energy Corp. (NYSE:REN) traded up 2.63% during mid-day trading on Friday, hitting $30.83. The stock had a trading volume of 317,018 shares. Resolute Energy Corp. has a 52 week low of $2.25 and a 52 week high of $33.84. The stock’s market capitalization is $541.59 million. The company’s 50 day moving average is $28.44 and its 200-day moving average is $14.40.
Several institutional investors have recently made changes to their positions in REN. JPMorgan Chase & Co. bought a new position in shares of Resolute Energy Corp. during the second quarter valued at $1,681,000. Penn Capital Management Co. Inc. bought a new position in shares of Resolute Energy Corp. during the third quarter valued at $3,482,000. Spark Investment Management LLC boosted its position in shares of Resolute Energy Corp. by 156.6% in the third quarter. Spark Investment Management LLC now owns 215,300 shares of the oil and gas exploration company’s stock valued at $5,610,000 after buying an additional 131,400 shares during the period. New York State Common Retirement Fund bought a new position in shares of Resolute Energy Corp. during the third quarter valued at $2,807,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of Resolute Energy Corp. during the third quarter valued at $2,059,000. Institutional investors own 31.40% 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).
Receive News & Stock Ratings for Resolute Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resolute Energy Corp. and related stocks with our FREE daily email newsletter.