Schwab Charles Investment Management Inc. increased its stake in shares of Resolute Energy Corp (NYSE:REN) by 92.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,636 shares of the oil and gas exploration company’s stock after purchasing an additional 42,656 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Resolute Energy were worth $2,632,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in Resolute Energy during the 3rd quarter valued at about $442,000. Teachers Advisors LLC acquired a new position in Resolute Energy during the 2nd quarter valued at about $1,172,000. California State Teachers Retirement System acquired a new position in Resolute Energy during the 2nd quarter valued at about $1,146,000. Caxton Associates LP acquired a new position in Resolute Energy during the 2nd quarter valued at about $5,005,000. Finally, Quantbot Technologies LP increased its position in Resolute Energy by 50,603.0% during the 3rd quarter. Quantbot Technologies LP now owns 16,732 shares of the oil and gas exploration company’s stock valued at $496,000 after buying an additional 16,699 shares in the last quarter.
Resolute Energy Corp (NYSE:REN) opened at $34.14 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of -8.75. The firm has a market capitalization of $788.09, a PE ratio of -23.38 and a beta of 3.42. Resolute Energy Corp has a 1-year low of $23.64 and a 1-year high of $49.14.
Resolute Energy (NYSE:REN) last announced its quarterly earnings data on Monday, November 6th. The oil and gas exploration company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.21). The firm had revenue of $81.60 million during the quarter, compared to analyst estimates of $86.76 million. The business’s revenue for the quarter was up 72.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.24) earnings per share. sell-side analysts anticipate that Resolute Energy Corp will post 0.6 EPS for the current fiscal year.
REN has been the topic of several recent analyst reports. Goldman Sachs Group raised Resolute Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, October 19th. They noted that the move was a valuation call. BMO Capital Markets set a $35.00 target price on Resolute Energy and gave the company a “hold” rating in a research report on Tuesday, October 24th. SunTrust Banks reaffirmed a “buy” rating on shares of Resolute Energy in a research report on Friday, November 10th. Northland Securities set a $50.00 target price on Resolute Energy and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Barclays reaffirmed an “overweight” rating and set a $37.00 target price on shares of Resolute Energy in a research report on Monday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $44.88.
In other news, insider Nicholas J. Sutton sold 9,999 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $27.29, for a total value of $272,872.71. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James E. Duffy sold 2,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $28.04, for a total value of $56,080.00. The disclosure for this sale can be found here. Insiders sold 19,999 shares of company stock worth $559,458 over the last three months. Corporate insiders own 7.30% of the company’s stock.
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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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