Resolute Energy Corp (NYSE:REN) – Research analysts at Seaport Global Securities boosted their Q4 2017 earnings per share estimates for shares of Resolute Energy in a research note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas exploration company will earn $0.78 per share for the quarter, up from their previous estimate of $0.67.
Other research analysts have also recently issued research reports about the company. SunTrust Banks reaffirmed a “buy” rating on shares of Resolute Energy in a research note on Friday, November 10th. ValuEngine cut Resolute Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BMO Capital Markets set a $35.00 target price on Resolute Energy and gave the company a “hold” rating in a research note on Tuesday, October 24th. Goldman Sachs Group set a $37.00 target price on Resolute Energy and gave the company a “buy” rating in a research note on Wednesday, December 6th. Finally, Northland Securities set a $40.00 target price on Resolute Energy and gave the company a “buy” rating in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.22.
Resolute Energy (NYSE:REN) last announced its earnings results on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.21). The company had revenue of $81.60 million during the quarter, compared to analyst estimates of $86.76 million. During the same period in the prior year, the company earned ($1.24) earnings per share. The firm’s quarterly revenue was up 72.2% on a year-over-year basis.
In other news, Director James E. Duffy sold 2,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $28.04, for a total transaction of $56,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Duffy sold 2,500 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $27.99, for a total value of $69,975.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,999 shares of company stock valued at $559,458. 7.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Monarch Alternative Capital LP lifted its holdings in shares of Resolute Energy by 33.3% during the third quarter. Monarch Alternative Capital LP now owns 1,816,300 shares of the oil and gas exploration company’s stock valued at $53,926,000 after purchasing an additional 453,251 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Resolute Energy by 46.2% during the second quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock valued at $44,518,000 after purchasing an additional 472,759 shares during the last quarter. State Street Corp lifted its holdings in shares of Resolute Energy by 8.0% during the second quarter. State Street Corp now owns 1,088,191 shares of the oil and gas exploration company’s stock valued at $32,396,000 after purchasing an additional 80,369 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Resolute Energy by 77.4% during the second quarter. Westwood Holdings Group Inc. now owns 667,290 shares of the oil and gas exploration company’s stock valued at $19,865,000 after purchasing an additional 291,195 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Resolute Energy during the third quarter valued at $9,130,000.
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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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