Zacks Investment Research upgraded shares of Resolute Energy Corp. (NYSE:REN) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $29.00 price objective on the oil and gas exploration company’s stock.
According to Zacks, “Resolute Energy Corporation, formerly Hicks Acquisition Company I, Inc. (HACI), is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties. The company operates producing properties in Utah, which were legacy properties acquired from two major oil companies, in connection with a strategic alliance with Navajo Nation Oil and Gas Company (wholly owned by the Navajo Nation) and in Wyoming and Oklahoma, which were acquired through the acquisition of a privately held oil and gas producer. In addition, Resolute owns exploration properties in Wyoming and Alabama. “
Several other equities research analysts also recently commented on REN. Barclays PLC upped their target price on shares of Resolute Energy Corp. from $1.00 to $4.00 and gave the company an underweight rating in a research note on Tuesday, June 14th. Wunderlich raised shares of Resolute Energy Corp. from a hold rating to a buy rating and upped their target price for the company from $4.00 to $8.00 in a research note on Monday, July 11th. Johnson Rice raised shares of Resolute Energy Corp. from an accumulate rating to a buy rating in a research note on Monday, July 11th. Finally, Northland Securities reaffirmed an outperform rating and issued a $35.00 target price (up previously from $12.00) on shares of Resolute Energy Corp. in a research note on Wednesday, September 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Resolute Energy Corp. presently has an average rating of Buy and an average target price of $32.33.
Resolute Energy Corp. (NYSE:REN) traded up 10.9809% on Tuesday, hitting $28.4999. 1,984,238 shares of the stock were exchanged. The stock’s market capitalization is $435.05 million. The company has a 50 day moving average of $21.24 and a 200 day moving average of $8.62. Resolute Energy Corp. has a one year low of $2.25 and a one year high of $30.70.
Resolute Energy Corp. (NYSE:REN) last posted 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 Zacks’ consensus estimate of ($0.03) by $2.41. The company had revenue of $35.40 million for the quarter, compared to analyst estimates of $51.82 million. During the same period last year, the business posted ($3.46) earnings per share. Resolute Energy Corp.’s revenue was down 26.9% compared to the same quarter last year. On average, equities research analysts forecast that Resolute Energy Corp. will post $1.04 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Resolute Energy Corp. stock. JPMorgan Chase & Co. bought a new stake in Resolute Energy Corp. (NYSE:REN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 3.72% of Resolute Energy Corp. as of its most recent filing with the SEC. Hedge funds and other institutional investors own 39.98% 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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