Resolute Energy Corp (NYSE:REN) – Equities researchers at Capital One Financial cut their Q3 2018 earnings estimates for shares of Resolute Energy in a research report issued on Wednesday, October 17th, Zacks Investment Research reports. Capital One Financial analyst R. Tullis now expects that the oil and gas exploration company will earn $0.40 per share for the quarter, down from their prior estimate of $0.59. Capital One Financial also issued estimates for Resolute Energy’s Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $1.06 EPS and FY2019 earnings at $5.69 EPS.
A number of other research firms also recently issued reports on REN. ValuEngine downgraded Resolute Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Seaport Global Securities restated a “hold” rating and set a $35.00 price target on shares of Resolute Energy in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.14.
Resolute Energy (NYSE:REN) last released its quarterly earnings results on Monday, November 5th. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.23). The firm had revenue of $106.75 million for the quarter, compared to the consensus estimate of $104.54 million. Resolute Energy had a negative net margin of 10.10% and a negative return on equity of 22.38%.
In related news, major shareholder Kemc Fund Iv Gp, Llc acquired 445,845 shares of the stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $26.81 per share, with a total value of $11,953,104.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Duffy sold 1,000 shares of Resolute Energy stock in a transaction dated Tuesday, September 11th. The shares were 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. Over the last ninety days, insiders have sold 2,328 shares of company stock worth $73,015. Insiders own 11.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Resolute Energy during the 3rd quarter valued at about $238,000. LPL Financial LLC purchased a new position in Resolute Energy in the 1st quarter worth approximately $247,000. Engineers Gate Manager LP purchased a new position in Resolute Energy in the 3rd quarter worth approximately $619,000. Brown Advisory Inc. lifted its holdings in Resolute Energy by 90.1% in the 1st quarter. Brown Advisory Inc. now owns 18,805 shares of the oil and gas exploration company’s stock worth $652,000 after purchasing an additional 8,911 shares in the last quarter. Finally, Fondren Management LP purchased a new position in Resolute Energy in the 2nd quarter worth approximately $624,000.
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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