Resolute Energy Corporation (REN) Downgraded by ValuEngine to “Sell”

Resolute Energy Corporation (NYSE:REN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, September 6th.

A number of other brokerages have also issued reports on REN. SunTrust Banks, Inc. began coverage on Resolute Energy Corporation in a report on Thursday, June 1st. They issued a “buy” rating and a $55.00 price objective for the company. Goldman Sachs Group, Inc. (The) began coverage on Resolute Energy Corporation in a report on Monday, July 17th. They issued a “neutral” rating and a $34.00 price objective for the company. BMO Capital Markets decreased their price objective on Resolute Energy Corporation from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, July 14th. Imperial Capital assumed coverage on Resolute Energy Corporation in a report on Tuesday, July 18th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Northland Securities set a $60.00 target price on Resolute Energy Corporation and gave the stock a “buy” rating in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. Resolute Energy Corporation has an average rating of “Hold” and an average price target of $44.99.

Resolute Energy Corporation (NYSE:REN) last posted its earnings results on Monday, August 7th. The oil and gas exploration company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.25. The company had revenue of $71.06 million for the quarter, compared to the consensus estimate of $77.09 million. During the same period last year, the company posted ($2.44) earnings per share. The firm’s revenue for the quarter was up 100.8% compared to the same quarter last year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Resolute Energy Corporation by 68.9% in the first quarter. Wellington Management Group LLP now owns 3,097,194 shares of the oil and gas exploration company’s stock valued at $125,127,000 after purchasing an additional 1,263,959 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Resolute Energy Corporation by 32.0% in the second quarter. Franklin Resources Inc. now owns 1,719,287 shares of the oil and gas exploration company’s stock valued at $51,182,000 after purchasing an additional 416,802 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Resolute Energy Corporation by 46.2% in the second quarter. Vanguard Group Inc. now owns 1,495,382 shares of the oil and gas exploration company’s stock valued at $44,518,000 after purchasing an additional 472,759 shares in the last quarter. State Street Corp lifted its holdings in shares of Resolute Energy Corporation by 8.0% in the second quarter. State Street Corp now owns 1,088,191 shares of the oil and gas exploration company’s stock valued at $32,396,000 after purchasing an additional 80,369 shares in the last quarter. Finally, Caymus Capital Partners L.P. lifted its holdings in shares of Resolute Energy Corporation by 82.2% in the second quarter. Caymus Capital Partners L.P. now owns 746,900 shares of the oil and gas exploration company’s stock valued at $22,235,000 after purchasing an additional 336,900 shares in the last quarter. Institutional investors own 93.81% of the company’s stock.

About Resolute Energy Corporation

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. The Company’s assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Resolute Energy Corporation (NYSE:REN)

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