Resolute Energy Corp (NYSE:REN) – Investment analysts at Capital One Financial cut their FY2018 earnings estimates for Resolute Energy in a research report issued on Wednesday, November 7th. Capital One Financial analyst R. Tullis now expects that the oil and gas exploration company will earn $0.99 per share for the year, down from their prior forecast of $1.31. Capital One Financial also issued estimates for Resolute Energy’s Q4 2018 earnings at $0.44 EPS, Q1 2019 earnings at $0.50 EPS, Q2 2019 earnings at $1.28 EPS, Q3 2019 earnings at $1.72 EPS and FY2019 earnings at $5.65 EPS.
Several other equities analysts also recently issued reports on REN. ValuEngine downgraded Resolute Energy from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Seaport Global Securities reiterated a “hold” rating and issued a $35.00 price objective on shares of Resolute Energy in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.14.
Resolute Energy (NYSE:REN) last issued its quarterly earnings data on Monday, November 5th. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.23). Resolute Energy had a negative net margin of 10.10% and a negative return on equity of 22.38%. The business had revenue of $106.75 million during the quarter, compared to the consensus estimate of $104.54 million.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Resolute Energy by 0.3% during the third quarter. BlackRock Inc. now owns 1,476,348 shares of the oil and gas exploration company’s stock worth $55,820,000 after acquiring an additional 4,507 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Resolute Energy by 19.7% during the third quarter. Alliancebernstein L.P. now owns 31,360 shares of the oil and gas exploration company’s stock worth $1,186,000 after acquiring an additional 5,160 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Resolute Energy during the third quarter worth $238,000. Engineers Gate Manager LP bought a new stake in shares of Resolute Energy during the third quarter worth $619,000. Finally, Fondren Management LP bought a new stake in shares of Resolute Energy during the second quarter worth $624,000.
In other news, major shareholder Kemc Fund Iv Gp, Llc bought 295,845 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was bought at an average price of $25.95 per share, for a total transaction of $7,677,177.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Duffy sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $32.35, for a total value of $32,350.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,328 shares of company stock valued at $73,015. 11.20% of the stock is currently owned by corporate insiders.
About Resolute Energy
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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