Resolute Energy (NYSE:REN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
A number of other brokerages have also weighed in on REN. B. Riley assumed coverage on Resolute Energy in a report on Monday, February 5th. They set a “neutral” rating and a $39.00 price objective on the stock. ValuEngine lowered Resolute Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. SunTrust Banks reaffirmed a “buy” rating on shares of Resolute Energy in a report on Friday, November 10th. Barclays reaffirmed a “buy” rating and set a $36.00 price objective on shares of Resolute Energy in a report on Sunday, December 24th. Finally, Goldman Sachs Group set a $37.00 price objective on Resolute Energy and gave the stock a “buy” rating in a report on Wednesday, December 6th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $43.89.
In other Resolute Energy news, Director James E. Duffy sold 3,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $30.96, for a total value of $92,880.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Duffy sold 1,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $27.69, for a total value of $27,690.00. The disclosure for this sale can be found here. Insiders sold 17,499 shares of company stock worth $489,483 in the last three months. 7.30% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC grew its holdings in Resolute Energy by 6.7% in the second quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock valued at $223,000 after purchasing an additional 470 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Resolute Energy in the third quarter valued at $233,000. UBS Asset Management Americas Inc. lifted its position in shares of Resolute Energy by 63.0% in the second quarter. UBS Asset Management Americas Inc. now owns 8,800 shares of the oil and gas exploration company’s stock valued at $262,000 after acquiring an additional 3,400 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Resolute Energy in the third quarter valued at $270,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Resolute Energy in the second quarter valued at $285,000.
About Resolute Energy
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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