SunTrust Banks Comments on Resolute Energy Corp’s Q1 2018 Earnings (REN)

Resolute Energy Corp (NYSE:REN) – Investment analysts at SunTrust Banks reduced their Q1 2018 earnings per share estimates for shares of Resolute Energy in a report released on Monday, April 16th. SunTrust Banks analyst N. Dingmann now expects that the oil and gas exploration company will post earnings per share of $0.42 for the quarter, down from their prior estimate of $0.45. SunTrust Banks currently has a “Hold” rating and a $41.00 price objective on the stock. SunTrust Banks also issued estimates for Resolute Energy’s Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.38 EPS and FY2018 earnings at $3.38 EPS.

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A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Tuesday, January 16th. Barclays restated a “buy” rating and set a $36.00 target price on shares of Resolute Energy in a report on Sunday, December 24th. B. Riley initiated coverage on Resolute Energy in a report on Monday, February 5th. They set a “neutral” rating and a $39.00 target price for the company. ValuEngine upgraded Resolute Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Northland Securities set a $45.00 target price on Resolute Energy and gave the stock a “buy” rating in a report on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Resolute Energy has an average rating of “Hold” and an average target price of $43.11.

Resolute Energy stock opened at $33.47 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of -7.40. The firm has a market cap of $795.74, a price-to-earnings ratio of 557.83 and a beta of 3.21. Resolute Energy has a twelve month low of $23.64 and a twelve month high of $44.44.

Resolute Energy (NYSE:REN) last posted its earnings results on Monday, March 12th. The oil and gas exploration company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $89.23 million during the quarter, compared to analyst estimates 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 was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.23) earnings per share.

Several institutional investors and hedge funds have recently modified their holdings of the company. Brown Advisory Inc. lifted its holdings in shares of Resolute Energy by 26.2% during the 4th quarter. Brown Advisory Inc. now owns 9,894 shares of the oil and gas exploration company’s stock valued at $311,000 after purchasing an additional 2,052 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Resolute Energy by 9.2% during the 4th quarter. Swiss National Bank now owns 31,000 shares of the oil and gas exploration company’s stock valued at $976,000 after purchasing an additional 2,600 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Resolute Energy by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 47,636 shares of the oil and gas exploration company’s stock valued at $1,499,000 after purchasing an additional 4,770 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Resolute Energy during the 3rd quarter valued at $270,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Resolute Energy by 4.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 234,495 shares of the oil and gas exploration company’s stock valued at $7,152,000 after purchasing an additional 10,283 shares during the last quarter.

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About Resolute Energy

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.

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

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