Resolute Energy Corporation (NYSE:REN) – Investment analysts at Capital One Financial Corporation upped their Q3 2017 earnings per share estimates for shares of Resolute Energy Corporation in a research report issued to clients and investors on Tuesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas exploration company will post earnings of $0.20 per share for the quarter, up from their prior forecast of $0.19. Capital One Financial Corporation also issued estimates for Resolute Energy Corporation’s FY2018 earnings at $0.76 EPS.
Resolute Energy Corporation (NYSE:REN) last announced its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.25. The business had revenue of $71.06 million during the quarter, compared to analysts’ expectations of $77.09 million. During the same period in the previous year, the company posted ($2.44) EPS. Resolute Energy Corporation’s revenue for the quarter was up 100.8% on a year-over-year basis.
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REN has been the subject of a number of other research reports. Northland Securities set a $60.00 price target on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Monday, July 17th. SunTrust Banks, Inc. began coverage on shares of Resolute Energy Corporation in a research report on Thursday, June 1st. They set a “buy” rating and a $55.00 price objective for the company. Imperial Capital began coverage on shares of Resolute Energy Corporation in a research report on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price target for the company. BidaskClub upgraded shares of Resolute Energy Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded shares of Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. Resolute Energy Corporation presently has a consensus rating of “Buy” and an average price target of $43.45.
Shares of Resolute Energy Corporation (REN) opened at 29.38 on Thursday. The stock’s market cap is $647.48 million. Resolute Energy Corporation has a 12 month low of $10.83 and a 12 month high of $49.14. The stock has a 50 day moving average of $30.96 and a 200 day moving average of $38.74.
In other news, Director James E. Duffy sold 3,000 shares of the firm’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 document filed with the SEC, which can be accessed through the SEC website. Also, Director James E. Duffy sold 1,250 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were 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. Insiders sold 37,750 shares of company stock worth $1,532,578 over the last quarter. 7.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. purchased a new position in Resolute Energy Corporation during the first quarter worth about $465,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Resolute Energy Corporation during the first quarter worth $309,000. Beddow Capital Management Inc. boosted its position in shares of Resolute Energy Corporation by 102.8% in the first quarter. Beddow Capital Management Inc. now owns 14,550 shares of the oil and gas exploration company’s stock worth $588,000 after buying an additional 7,375 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Resolute Energy Corporation during the first quarter worth $218,000. Finally, Capital Fund Management S.A. bought a new position in shares of Resolute Energy Corporation during the first quarter worth $1,202,000. 86.52% of the stock is currently 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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