BlackRock Inc. grew its stake in Resolute Energy Corp (NYSE:REN) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,399,693 shares of the oil and gas exploration company’s stock after acquiring an additional 30,337 shares during the quarter. BlackRock Inc. owned 6.22% of Resolute Energy worth $44,049,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in REN. Brown Advisory Inc. bought a new stake in Resolute Energy in the third quarter worth $233,000. Jane Street Group LLC bought a new stake in Resolute Energy in the third quarter worth $270,000. Swiss National Bank boosted its holdings in Resolute Energy by 9.2% in the fourth quarter. Swiss National Bank now owns 31,000 shares of the oil and gas exploration company’s stock worth $976,000 after acquiring an additional 2,600 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Resolute Energy in the third quarter worth $1,155,000. Finally, Wells Fargo & Company MN raised its stake in shares of Resolute Energy by 109.1% in the third quarter. Wells Fargo & Company MN now owns 42,866 shares of the oil and gas exploration company’s stock worth $1,274,000 after purchasing an additional 22,368 shares during the last quarter.
Several research analysts have recently weighed in on the company. Seaport Global Securities cut Resolute Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Northland Securities set a $45.00 price target on Resolute Energy and gave the stock a “buy” rating in a research note on Wednesday, March 14th. SunTrust Banks set a $44.00 price target on Resolute Energy and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Zacks Investment Research upgraded Resolute Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 3rd. Finally, B. Riley assumed coverage on Resolute Energy in a research note on Monday, February 5th. They issued a “neutral” rating and a $39.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.22.
Resolute Energy (NYSE:REN) last posted its quarterly earnings data on Monday, March 12th. The oil and gas exploration company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $89.23 million during the quarter, compared to analysts’ expectations of $87.71 million. Resolute Energy had a negative return on equity of 25.97% and a negative net margin of 1.23%. Resolute Energy’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.23) earnings per share. research analysts anticipate that Resolute Energy Corp will post 3.91 EPS for the current fiscal year.
Resolute Energy Company Profile
Resolute Energy Corporation, an independent oil and gas company, engages in the acquisition, exploitation, exploration for, and development of oil and gas properties in the United States. Its principal project area is located in the Delaware Basin portion of the Permian Basin, Reeves County. As of December 31, 2017, it had interests in approximately 27,100 gross acres located in the Permian Basin of Texas; and its estimated net proved reserves were approximately 53.4 million barrels of oil equivalent.
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