BMO Capital Markets reiterated their buy rating on shares of Resolute Energy Corp (NYSE:REN) in a research note published on Tuesday morning. The brokerage currently has a $50.00 price target on the oil and gas exploration company’s stock.
Several other research firms also recently commented on REN. Zacks Investment Research raised shares of Resolute Energy Corp from a hold rating to a buy rating and set a $48.00 price target on the stock in a research note on Thursday, March 9th. Vetr downgraded shares of Resolute Energy Corp from a strong-buy rating to a buy rating and set a $37.81 price target on the stock. in a research note on Tuesday, December 13th. Finally, KLR Group assumed coverage on shares of Resolute Energy Corp in a research note on Tuesday, December 6th. They set a buy rating and a $45.00 price target on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Resolute Energy Corp currently has an average rating of Buy and an average target price of $42.58.
Shares of Resolute Energy Corp (NYSE:REN) opened at 41.61 on Tuesday. The company’s market capitalization is $933.60 million. The stock has a 50 day moving average of $44.38 and a 200-day moving average of $34.83. Resolute Energy Corp has a 1-year low of $2.35 and a 1-year high of $49.14.
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In other news, Director James E. Duffy sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $40.68, for a total transaction of $406,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary Hultquist bought 2,000 shares of the company’s stock in a transaction dated Friday, December 30th. The shares were acquired at an average price of $40.70 per share, for a total transaction of $81,400.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,000 shares of company stock worth $1,054,920. Insiders own 7.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. State Street Corp acquired a new stake in shares of Resolute Energy Corp during the fourth quarter worth approximately $41,902,000. FMR LLC purchased a new position in shares of Resolute Energy Corp during the fourth quarter worth about $33,505,000. Monarch Alternative Capital LP purchased a new position in shares of Resolute Energy Corp during the fourth quarter worth about $29,863,000. Anchorage Capital Group L.L.C. purchased a new position in shares of Resolute Energy Corp during the fourth quarter worth about $26,774,000. Finally, Franklin Resources Inc. purchased a new position in shares of Resolute Energy Corp during the fourth quarter worth about $18,779,000. Hedge funds and other institutional investors own 46.06% of the company’s stock.
Resolute Energy Corp Company Profile
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. Its properties are Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field), and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).
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