Capital One Financial Weighs in on Resolute Energy Corp’s Q3 2018 Earnings (REN)

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Resolute Energy Corp (NYSE:REN) – Equities researchers at Capital One Financial lowered their Q3 2018 earnings per share (EPS) estimates for Resolute Energy in a research report issued on Wednesday, October 17th. Capital One Financial analyst R. Tullis now expects that the oil and gas exploration company will post earnings per share of $0.40 for the quarter, down from their prior forecast of $0.59. Capital One Financial also issued estimates for Resolute Energy’s Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $1.06 EPS and FY2019 earnings at $5.69 EPS.

Resolute Energy (NYSE:REN) last released its quarterly earnings results on Monday, August 6th. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.26). Resolute Energy had a negative return on equity of 16.12% and a negative net margin of 10.99%. The firm had revenue of $73.38 million for the quarter, compared to analyst estimates of $76.24 million. During the same period in the prior year, the business earned $0.47 earnings per share. Resolute Energy’s revenue for the quarter was up 4.4% on a year-over-year basis.

Separately, ValuEngine cut shares of Resolute Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $39.14.

Resolute Energy stock opened at $29.88 on Friday. Resolute Energy has a 12-month low of $25.46 and a 12-month high of $39.28. The stock has a market cap of $691.06 million, a price-to-earnings ratio of 498.17 and a beta of 3.36. The company has a debt-to-equity ratio of -8.08, a quick ratio of 0.35 and a current ratio of 0.35.

Several hedge funds have recently made changes to their positions in the company. Silver Point Capital L.P. purchased a new position in Resolute Energy in the second quarter valued at approximately $12,074,000. Swiss National Bank raised its holdings in Resolute Energy by 12.3% in the second quarter. Swiss National Bank now owns 34,800 shares of the oil and gas exploration company’s stock valued at $1,086,000 after buying an additional 3,800 shares during the period. Precocity Capital LP purchased a new position in Resolute Energy in the second quarter valued at approximately $10,296,000. Sei Investments Co. raised its holdings in Resolute Energy by 63.2% in the second quarter. Sei Investments Co. now owns 40,255 shares of the oil and gas exploration company’s stock valued at $1,256,000 after buying an additional 15,590 shares during the period. Finally, Monarch Alternative Capital LP raised its holdings in Resolute Energy by 3.4% in the second quarter. Monarch Alternative Capital LP now owns 2,268,400 shares of the oil and gas exploration company’s stock valued at $70,774,000 after buying an additional 75,000 shares during the period.

In other news, Director James E. Duffy sold 1,000 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $32.35, for a total transaction of $32,350.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 2,328 shares of company stock worth $73,015. Insiders own 11.20% of the company’s stock.

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.

See Also: What are retained earnings?

Earnings History and Estimates for Resolute Energy (NYSE:REN)

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