Resolute Energy Corp (NYSE:REN) – Equities researchers at Seaport Global Securities dropped their FY2018 EPS estimates for Resolute Energy in a research note issued on Tuesday, November 6th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas exploration company will earn $1.83 per share for the year, down from their previous estimate of $2.51. Seaport Global Securities currently has a “Hold” rating and a $35.00 target price on the stock. Seaport Global Securities also issued estimates for Resolute Energy’s Q4 2018 earnings at $1.27 EPS, Q1 2019 earnings at $1.61 EPS, Q3 2019 earnings at $1.95 EPS, Q4 2019 earnings at $2.23 EPS and FY2019 earnings at $7.54 EPS.
Resolute Energy (NYSE:REN) last released its quarterly earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). The firm 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%.
Separately, ValuEngine lowered shares of Resolute Energy from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Resolute Energy presently has a consensus rating of “Hold” and an average price target of $39.14.
REN opened at $30.35 on Friday. The firm has a market cap of $745.42 million, a PE ratio of 505.83 and a beta of 3.46. Resolute Energy has a one year low of $24.60 and a one year high of $39.28.
In related news, Director James E. Duffy sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $30.54, for a total value of $30,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kemc Fund Iv Gp, Llc bought 295,845 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was bought at an average price of $25.95 per share, with a total value of $7,677,177.75. The disclosure for this purchase can be found here. Insiders sold 2,328 shares of company stock valued at $73,015 over the last quarter. 11.20% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Resolute Energy in the third quarter worth $238,000. LPL Financial LLC purchased a new position in Resolute Energy in the first quarter worth $247,000. Engineers Gate Manager LP purchased a new position in Resolute Energy in the third quarter worth $619,000. Fondren Management LP purchased a new position in Resolute Energy in the second quarter worth $624,000. Finally, Brown Advisory Inc. grew its position in Resolute Energy by 90.1% in the first quarter. Brown Advisory Inc. now owns 18,805 shares of the oil and gas exploration company’s stock worth $652,000 after acquiring an additional 8,911 shares in the last quarter.
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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