Resolute Energy Corp (REN) was Upgraded by Wunderlich to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $4 . Earlier the firm had a rating of “Hold ” on the company shares. Wunderlich advised their investors in a research report released on Jul 11, 2016.
Many Wall Street Analysts have commented on Resolute Energy Corp. Company shares were Upgraded by Wunderlich on Jul 11, 2016 to ” Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $4 .Company shares were Reiterated by Barclays on Jun 14, 2016 to “Underweight”, Firm has raised the Price Target to $ 4 from a previous price target of $1 .
On the company’s financial health, Resolute Energy Corp reported $-1.13 EPS for the quarter, missing the analyst consensus estimate by $ -1.12 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.01. The company had revenue of $19.00 million for the quarter, compared to analysts expectations of $50.68 million. The company’s revenue was down -53.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-2.80 EPS.
Resolute Energy Corp opened for trading at $3.47 and hit $3.83 on the upside on Friday, eventually ending the session at $3.8, with a gain of 28.81% or 0.85 points. The heightened volatility saw the trading volume jump to 6,20,786 shares. Company has a market cap of $59 M.
In a different news, on Dec 16, 2015, Nicholas J Sutton (CEO) purchased 50,000 shares at $0.87 per share price. According to the SEC, on Dec 16, 2015, Theodore Gazulis (officer ) purchased 13,014 shares at $0.86 per share price. On Dec 7, 2015, Thomas O Jr Hicks (director) purchased 59,200 shares at $0.87 per share price, according to the Form-4 filing with the securities and exchange commission.
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 asset base consists primarily of properties in Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field) the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties) and the Powder River and Big Horn Basins in Wyoming (the Wyoming Properties). Approximately 86% of its estimated net proved reserves were oil and approximately 92% were oil and natural gas liquids (NGL). The Company has an interest in gas gathering and compression facilities located within and adjacent to its Aneth Field Properties. Collectively called the Aneth Gas Processing Plant the facility consists of an active gas compression operation operated by it and a dismantled gas processing facility.