Resolute Energy (NYSE:REN) posted its earnings results on Monday, March 12th. The oil and gas exploration company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02, Briefing.com reports. Resolute Energy had a negative net margin of 1.23% and a negative return on equity of 25.97%. The firm had revenue of $89.23 million for the quarter, compared to analyst estimates of $87.71 million. During the same period in the previous year, the firm posted ($1.23) EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year.
REN traded up $0.89 on Thursday, reaching $35.00. The company had a trading volume of 577,246 shares, compared to its average volume of 633,390. The company has a market capitalization of $770.98, a P/E ratio of 583.33 and a beta of 3.22. Resolute Energy has a 52-week low of $23.64 and a 52-week high of $45.66. The company has a debt-to-equity ratio of -7.40, a current ratio of 0.48 and a quick ratio of 0.48.
Several brokerages have recently commented on REN. Northland Securities set a $45.00 target price on shares of Resolute Energy and gave the company a “buy” rating in a report on Wednesday, March 14th. Zacks Investment Research upgraded shares of Resolute Energy from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Tuesday, January 16th. SunTrust Banks set a $44.00 target price on shares of Resolute Energy and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Seaport Global Securities lowered shares of Resolute Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, B. Riley assumed coverage on shares of Resolute Energy in a research report on Monday, February 5th. They set a “neutral” rating and a $39.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $43.22.
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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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