Shares of Resolute Energy Corp (NYSE:REN) have earned an average recommendation of “Buy” from the thirteen research firms that are currently covering the company. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $41.98.
Several brokerages recently issued reports on REN. Zacks Investment Research raised shares of Resolute Energy Corp from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, February 1st. BMO Capital Markets reissued a “buy” rating and set a $50.00 target price on shares of Resolute Energy Corp in a report on Tuesday, March 14th. KLR Group reissued a “buy” rating and set a $54.00 target price on shares of Resolute Energy Corp in a report on Wednesday, March 15th. Finally, Barclays PLC upped their price objective on shares of Resolute Energy Corp to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 15th.
In related news, Director William Kemper White sold 11,000 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $42.32, for a total transaction of $465,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard F. Betz sold 12,500 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $40.96, for a total transaction of $512,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,500 shares of company stock valued at $1,403,120. 7.70% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of REN. Wellington Management Group LLP raised its position in Resolute Energy Corp 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 buying an additional 1,263,959 shares during the last quarter. State Street Corp acquired a new position in shares of Resolute Energy Corp during the fourth quarter worth $41,902,000. FMR LLC acquired a new position in shares of Resolute Energy Corp during the fourth quarter worth $33,505,000. Monarch Alternative Capital LP acquired a new position in shares of Resolute Energy Corp during the fourth quarter worth $29,863,000. Finally, Anchorage Capital Group L.L.C. acquired a new position in shares of Resolute Energy Corp during the fourth quarter worth $26,774,000. Institutional investors own 46.06% of the company’s stock.
Shares of Resolute Energy Corp (NYSE:REN) traded up 5.54% during mid-day trading on Tuesday, reaching $41.34. 513,296 shares of the company’s stock traded hands. Resolute Energy Corp has a 12 month low of $2.76 and a 12 month high of $49.14. The firm has a 50 day moving average price of $40.57 and a 200-day moving average price of $40.05. The stock’s market cap is $911.05 million.
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. 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).
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