Resolute Energy Corporation (REN) Given a $50.00 Price Target by Northland Securities Analysts
Resolute Energy Corporation (NYSE:REN) has been given a $50.00 price objective by Northland Securities in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Northland Securities’ price objective indicates a potential upside of 80.70% from the company’s previous close.
A number of other analysts have also weighed in on the stock. BMO Capital Markets set a $35.00 target price on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a report on Wednesday, August 16th. ValuEngine lowered shares of Resolute Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) upgraded shares of Resolute Energy Corporation from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, October 19th. They noted that the move was a valuation call. KLR Group reiterated a “buy” rating and set a $64.00 target price (up from $60.00) on shares of Resolute Energy Corporation in a report on Friday, September 15th. Finally, Imperial Capital reiterated a “buy” rating and set a $50.00 target price on shares of Resolute Energy Corporation in a report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $46.98.
Shares of Resolute Energy Corporation (NYSE REN) opened at $27.67 on Thursday. The company has a debt-to-equity ratio of -8.75, a current ratio of 0.42 and a quick ratio of 0.42. Resolute Energy Corporation has a 1 year low of $23.64 and a 1 year high of $49.14.
Resolute Energy Corporation (NYSE:REN) last posted its quarterly earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.21). The business had revenue of $81.60 million for the quarter, compared to analyst estimates of $86.76 million. The firm’s revenue for the quarter was up 72.2% on a year-over-year basis. During the same period last year, the firm posted ($1.24) EPS. research analysts expect that Resolute Energy Corporation will post 0.61 earnings per share for the current fiscal year.
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In related news, Director James E. Duffy sold 2,500 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total value of $76,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in Resolute Energy Corporation by 2.6% in the first quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock worth $124,000 after buying an additional 79 shares in the last quarter. Northpointe Capital LLC bought a new position in Resolute Energy Corporation in the second quarter worth about $152,000. Legal & General Group Plc bought a new position in Resolute Energy Corporation in the second quarter worth about $168,000. Bank of America Corp DE raised its stake in Resolute Energy Corporation by 799.4% in the first quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock worth $194,000 after buying an additional 4,269 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in Resolute Energy Corporation in the first quarter worth about $218,000. 93.45% of the stock is owned by institutional investors.
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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