Resolute Energy Corporation (NYSE:REN) Given Average Rating of “Buy” by Analysts

Shares of Resolute Energy Corporation (NYSE:REN) have been given a consensus recommendation of “Buy” by the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $43.07.

REN has been the topic of a number of analyst reports. SunTrust Banks, Inc. initiated coverage on shares of Resolute Energy Corporation in a research note on Thursday, June 1st. They issued a “buy” rating and a $55.00 price target on the stock. BMO Capital Markets set a $38.00 price target on shares of Resolute Energy Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Resolute Energy Corporation in a research note on Monday, July 17th. They issued a “neutral” rating and a $34.00 price target on the stock. Zacks Investment Research cut shares of Resolute Energy Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Finally, Imperial Capital initiated coverage on shares of Resolute Energy Corporation in a research note on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price target on the stock.

Shares of Resolute Energy Corporation (NYSE:REN) traded down 4.82% during mid-day trading on Tuesday, hitting $28.24. 1,281,664 shares of the stock traded hands. The company’s market capitalization is $622.35 million. Resolute Energy Corporation has a 1-year low of $6.78 and a 1-year high of $49.14. The company’s 50-day moving average price is $31.07 and its 200 day moving average price is $39.12.

Resolute Energy Corporation (NYSE:REN) last announced its quarterly earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.25. The firm had revenue of $71.06 million during the quarter, compared to the consensus estimate of $77.09 million. The business’s revenue for the quarter was up 100.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.44) EPS. Equities research analysts forecast that Resolute Energy Corporation will post $1.00 EPS for the current fiscal year.

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In other news, Director James E. Duffy sold 1,250 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $29.91, for a total transaction of $37,387.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bob D. Brady, Jr. sold 10,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $42.56, for a total transaction of $425,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 37,750 shares of company stock valued at $1,532,578. 7.30% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in REN. Wellington Management Group LLP raised its stake in Resolute Energy Corporation by 68.9% in the first quarter. Wellington Management Group LLP now owns 3,097,194 shares of the oil and gas exploration company’s stock valued at $125,127,000 after buying an additional 1,263,959 shares during the last quarter. Vanguard Group Inc. raised its stake in Resolute Energy Corporation by 53.5% in the first quarter. Vanguard Group Inc. now owns 1,022,623 shares of the oil and gas exploration company’s stock valued at $41,313,000 after buying an additional 356,237 shares during the last quarter. Caymus Capital Partners L.P. raised its stake in Resolute Energy Corporation by 82.2% in the second quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock valued at $22,235,000 after buying an additional 336,900 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in Resolute Energy Corporation during the first quarter valued at approximately $15,194,000. Finally, United Services Automobile Association raised its stake in Resolute Energy Corporation by 189.3% in the first quarter. United Services Automobile Association now owns 286,723 shares of the oil and gas exploration company’s stock valued at $11,584,000 after buying an additional 187,623 shares during the last quarter. 86.52% of the stock is owned by hedge funds and other 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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