Resolute Energy Corp (NYSE:REN) – Research analysts at Seaport Global Securities lifted their Q2 2019 earnings per share (EPS) estimates for Resolute Energy in a report released on Tuesday, November 6th. Seaport Global Securities analyst M. Kelly now expects that the oil and gas exploration company will post earnings of $1.75 per share for the quarter, up from their prior estimate of $1.73. Seaport Global Securities has a “Hold” rating and a $35.00 price objective on the stock.
Separately, ValuEngine downgraded shares of Resolute Energy from a “hold” rating to a “sell” rating in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Resolute Energy currently has an average rating of “Hold” and an average price target of $39.14.
Shares of NYSE REN opened at $30.35 on Thursday. The stock has a market cap of $745.42 million, a PE ratio of 42.34 and a beta of 3.46. Resolute Energy has a 52-week low of $24.60 and a 52-week high of $39.28.
Resolute Energy (NYSE:REN) last announced its quarterly earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). The company had revenue of $106.75 million for the quarter, compared to analysts’ expectations of $104.54 million. Resolute Energy had a negative net margin of 10.10% and a negative return on equity of 22.38%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Resolute Energy in the third quarter worth approximately $238,000. LPL Financial LLC purchased a new position in Resolute Energy during the first quarter valued at approximately $247,000. Engineers Gate Manager LP purchased a new position in Resolute Energy during the third quarter valued at approximately $619,000. Fondren Management LP purchased a new position in Resolute Energy during the second quarter valued at approximately $624,000. Finally, Brown Advisory Inc. lifted its holdings in Resolute Energy by 90.1% during the first quarter. Brown Advisory Inc. now owns 18,805 shares of the oil and gas exploration company’s stock valued at $652,000 after purchasing an additional 8,911 shares in the last quarter.
In related news, Director James E. Duffy sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $32.35, for a total value of $32,350.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Kemc Fund Iv Gp, Llc acquired 445,845 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average cost of $26.81 per share, for a total transaction of $11,953,104.45. The disclosure for this purchase can be found here. In the last three months, insiders sold 2,328 shares of company stock worth $73,015. 11.20% of the stock is currently owned by insiders.
Resolute Energy Company Profile
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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