Resolute Energy Corp (REN) Given Consensus Recommendation of “Hold” by Analysts

Resolute Energy Corp (NYSE:REN) has been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.63.

Separately, ValuEngine downgraded Resolute Energy from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd.

In other news, Director James E. Duffy sold 1,000 shares of Resolute Energy stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $30.54, for a total value of $30,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Duffy sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $33.65, for a total value of $67,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,328 shares of company stock valued at $140,315. Company insiders own 11.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of REN. Carmignac Gestion purchased a new stake in Resolute Energy during the first quarter valued at about $18,711,000. Cardinal Capital Management LLC CT grew its position in Resolute Energy by 69.0% during the first quarter. Cardinal Capital Management LLC CT now owns 1,074,687 shares of the oil and gas exploration company’s stock valued at $37,238,000 after acquiring an additional 438,649 shares during the period. VR Advisory Services Ltd grew its position in Resolute Energy by 68.6% during the first quarter. VR Advisory Services Ltd now owns 983,000 shares of the oil and gas exploration company’s stock valued at $34,061,000 after acquiring an additional 400,000 shares during the period. Silver Point Capital L.P. purchased a new stake in Resolute Energy during the second quarter valued at about $12,074,000. Finally, Precocity Capital LP purchased a new stake in Resolute Energy during the second quarter valued at about $10,296,000.

Shares of NYSE:REN traded up $0.77 during midday trading on Wednesday, reaching $33.26. The company’s stock had a trading volume of 436,600 shares, compared to its average volume of 549,307. The company has a market cap of $709.59 million, a P/E ratio of 554.33 and a beta of 3.36. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of -8.08. Resolute Energy has a 1 year low of $25.46 and a 1 year high of $38.64.

Resolute Energy (NYSE:REN) last announced its quarterly earnings data on Monday, August 6th. The oil and gas exploration company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.26). The business had revenue of $73.38 million during the quarter, compared to analysts’ expectations of $76.24 million. Resolute Energy had a negative net margin of 10.99% and a negative return on equity of 16.12%. Resolute Energy’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. sell-side analysts expect that Resolute Energy will post 2.19 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Resolute Energy (NYSE:REN)

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