Resolute Energy Corporation (REN) Upgraded to Buy at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) upgraded shares of Resolute Energy Corporation (NYSE:REN) from a neutral rating to a buy rating in a research note published on Thursday morning. Goldman Sachs Group, Inc. (The) currently has $32.00 target price on the oil and gas exploration company’s stock. The analysts noted that the move was a valuation call.

Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Resolute Energy Corporation from a hold rating to a sell rating in a research report on Wednesday, September 6th. BMO Capital Markets reduced their price target on shares of Resolute Energy Corporation from $38.00 to $35.00 and set an outperform rating for the company in a research report on Friday, July 14th. KLR Group restated a buy rating and set a $64.00 price target (up previously from $60.00) on shares of Resolute Energy Corporation in a research report on Friday, September 15th. Imperial Capital restated a buy rating and set a $50.00 price target on shares of Resolute Energy Corporation in a research report on Monday, September 18th. 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $48.23.

Shares of Resolute Energy Corporation (NYSE REN) traded up 3.48% on Thursday, hitting $30.00. The stock had a trading volume of 1,059,194 shares. The firm’s 50-day moving average price is $28.85 and its 200 day moving average price is $33.52. Resolute Energy Corporation has a 12 month low of $22.27 and a 12 month high of $49.14. The firm’s market cap is $661.71 million.

Resolute Energy Corporation (NYSE:REN) last released 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 company had revenue of $71.06 million for the quarter, compared to analyst estimates of $77.09 million. During the same quarter last year, the company earned ($2.44) EPS. The firm’s revenue for the quarter was up 100.8% on a year-over-year basis. Analysts anticipate that Resolute Energy Corporation will post $1.13 EPS for the current fiscal year.

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In related news, Director James E. Duffy sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $30.44, for a total transaction of $76,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in Resolute Energy Corporation by 2.6% during the 1st quarter. Wells Fargo & Company MN now owns 3,079 shares of the oil and gas exploration company’s stock valued at $124,000 after acquiring an additional 79 shares in the last quarter. Bank of America Corp DE grew its stake in Resolute Energy Corporation by 799.4% during the 1st quarter. Bank of America Corp DE now owns 4,803 shares of the oil and gas exploration company’s stock valued at $194,000 after acquiring an additional 4,269 shares in the last quarter. Northpointe Capital LLC purchased a new stake in Resolute Energy Corporation during the 2nd quarter valued at about $152,000. UBS Asset Management Americas Inc. purchased a new stake in Resolute Energy Corporation during the 1st quarter valued at about $218,000. Finally, Legal & General Group Plc purchased a new stake in Resolute Energy Corporation during the 2nd quarter valued at about $168,000. 93.81% of the stock is owned by institutional investors.

About Resolute Energy Corporation

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).

Analyst Recommendations for Resolute Energy Corporation (NYSE:REN)

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