Resolute Energy Corp. (NYSE:REN) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $36.33 target price on the oil and gas exploration company’s stock. Vetr‘s price objective indicates a potential upside of 9.82% from the company’s current price.
REN has been the subject of a number of other research reports. Wunderlich raised Resolute Energy Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $8.00 in a research report on Monday, July 11th. Johnson Rice raised Resolute Energy Corp. from an “accumulate” rating to a “buy” rating in a research report on Monday, July 11th. Northland Securities raised Resolute Energy Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 11th. Barclays PLC upgraded Resolute Energy Corp. from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $4.00 to $8.00 in a report on Wednesday, July 13th. Finally, Zacks Investment Research upgraded Resolute Energy Corp. from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $34.67.
Resolute Energy Corp. (NYSE:REN) last released its quarterly earnings results on Monday, August 8th. The oil and gas exploration company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $2.41. The business earned $35.40 million during the quarter, compared to the consensus estimate of $51.82 million. The business’s quarterly revenue was down 26.9% compared to the same quarter last year. During the same period last year, the firm earned ($3.46) earnings per share.
A hedge fund recently raised its stake in Resolute Energy Corp. stock. Spark Investment Management LLC increased its position in Resolute Energy Corp. (NYSE:REN) by 666.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 500,100 shares of the oil and gas exploration company’s stock after buying an additional 434,842 shares during the period. Spark Investment Management LLC owned about 0.66% of Resolute Energy Corp. worth $255,000 as of its most recent SEC filing. Institutional investors and hedge funds own 40.00% of the company’s stock.
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).