Resolute Energy Corporation (REN) Stock Rating Reaffirmed by KLR Group
Resolute Energy Corporation (NYSE:REN)‘s stock had its “buy” rating reissued by KLR Group in a report released on Friday. They presently have a $64.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $60.00. KLR Group’s target price points to a potential upside of 112.55% from the stock’s current price.
Other equities analysts have also issued reports about the company. Northland Securities set a $60.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets set a $35.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 16th. SunTrust Banks, Inc. initiated coverage on Resolute Energy Corporation in a research report on Thursday, June 1st. They set a “buy” rating and a $55.00 target price on the stock. BidaskClub raised Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised Resolute Energy Corporation from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $44.22.
Resolute Energy Corporation (NYSE REN) opened at 30.11 on Friday. The company’s market capitalization is $664.14 million. Resolute Energy Corporation has a 52 week low of $20.47 and a 52 week high of $49.14. The stock’s 50 day moving average is $28.58 and its 200 day moving average is $35.37.
Resolute Energy Corporation (NYSE:REN) last issued its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.25. The firm had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. During the same period in the previous year, the company earned ($2.44) earnings per share. Resolute Energy Corporation’s revenue for the quarter was up 100.8% compared to the same quarter last year. Analysts predict that Resolute Energy Corporation will post $0.89 EPS for the current fiscal year.
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In related news, Director James E. Duffy sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $30.69, for a total transaction of $92,070.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Duffy sold 1,250 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $29.91, for a total value of $37,387.50. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.
A number of large investors have recently made changes to their positions in REN. Wells Fargo & Company MN grew its stake in Resolute Energy Corporation by 2.6% in the 1st quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock valued at $124,000 after purchasing an additional 79 shares during the period. Northpointe Capital LLC bought a new position in Resolute Energy Corporation in the 2nd quarter valued at $152,000. Legal & General Group Plc bought a new position in Resolute Energy Corporation in the 2nd quarter valued at $168,000. Bank of America Corp DE grew its stake in Resolute Energy Corporation by 799.4% in the 1st quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock valued at $194,000 after purchasing an additional 4,269 shares during the period. Finally, UBS Asset Management Americas Inc. bought a new position in Resolute Energy Corporation in the 1st quarter valued at $218,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.
Resolute Energy Corporation 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. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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