Today, Resolute Energy Corp. (REN) Lowered by Vetr Inc. to Hold

Today, Resolute Energy Corp. (REN) Lowered by Vetr Inc. to Hold
Resolute Energy Corp. (NYSE:REN) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $34.90 price objective on the oil and gas exploration company’s stock. Vetr‘s price target indicates a potential upside of 8.72% from the stock’s previous close.

A number of other analysts have also recently weighed in on REN. Wunderlich boosted their price target on Resolute Energy Corp. from $8.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, August 16th. Northland Securities reaffirmed an “outperform” rating and issued a $35.00 price target (up previously from $12.00) on shares of Resolute Energy Corp. in a research report on Wednesday, September 7th. Barclays PLC reaffirmed an “equal weight” rating and issued a $28.00 price target (up previously from $5.00) on shares of Resolute Energy Corp. in a research report on Friday, September 16th. Finally, Rodman & Renshaw started coverage on Resolute Energy Corp. in a research report on Wednesday, October 5th. They issued a “buy” rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $34.49.

Shares of Resolute Energy Corp. (NYSE:REN) traded up 0.03% on Monday, hitting $32.11. The stock had a trading volume of 167,346 shares. The firm’s 50-day moving average is $29.25 and its 200 day moving average is $15.33. The stock’s market cap is $490.64 million. Resolute Energy Corp. has a 1-year low of $2.25 and a 1-year high of $35.00.

Resolute Energy Corp. (NYSE:REN) last announced its quarterly earnings results on Monday, November 7th. The oil and gas exploration company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $1.53. The business earned $47.42 million during the quarter, compared to the consensus estimate of $63.08 million. During the same period in the prior year, the company earned ($2.44) earnings per share. Resolute Energy Corp.’s revenue was up 29.6% on a year-over-year basis. Equities analysts forecast that Resolute Energy Corp. will post ($5.75) EPS for the current year.

A number of institutional investors have recently bought and sold shares of REN. JPMorgan Chase & Co. purchased a new position in Resolute Energy Corp. during the second quarter valued at approximately $1,681,000. Penn Capital Management Co. Inc. purchased a new position in Resolute Energy Corp. during the third quarter valued at approximately $3,482,000. Spark Investment Management LLC boosted its position in Resolute Energy Corp. by 156.6% in the third quarter. Spark Investment Management LLC now owns 215,300 shares of the oil and gas exploration company’s stock valued at $5,610,000 after buying an additional 131,400 shares during the period. New York State Common Retirement Fund purchased a new position in Resolute Energy Corp. during the third quarter valued at approximately $2,807,000. Finally, Emerald Acquisition Ltd. purchased a new position in Resolute Energy Corp. during the third quarter valued at approximately $2,059,000. 34.10% of the stock is owned by hedge funds and other institutional investors.

About Resolute Energy Corp.

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. Its properties are Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).

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