The stock of Resolute Energy Corp (NYSE:REN) hit a new 52-week high and has $36.48 target or 8.00% above today’s $33.78 share price. The 9 months bullish chart indicates low risk for the $679.62 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $36.48 price target is reached, the company will be worth $54.37M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.37M shares traded hands or 50.71% up from the average. Resolute Energy Corp (NYSE:REN) has risen 1142.22% since April 28, 2016 and is uptrending. It has outperformed by 1136.30% the S&P500.
Analysts await Resolute Energy Corp (NYSE:REN) to report earnings on March, 6. They expect $0.70 earnings per share, up 193.33% or $1.45 from last year’s $-0.75 per share. REN’s profit will be $14.08M for 12.06 P/E if the $0.70 EPS becomes a reality. After $-1.50 actual earnings per share reported by Resolute Energy Corp for the previous quarter, Wall Street now forecasts -146.67% EPS growth.
Resolute Energy Corp (NYSE:REN) Ratings Coverage
Out of 11 analysts covering Resolute Energy (NYSE:REN), 5 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 45% are positive. Resolute Energy has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Thursday, October 6, the company rating was maintained by Wunderlich. Barclays Capital upgraded the shares of REN in a report on Wednesday, July 13 to “Equal-Weight” rating. The rating was upgraded by Wunderlich to “Buy” on Monday, July 11. Seaport Global Securities initiated Resolute Energy Corp (NYSE:REN) rating on Wednesday, October 5. Seaport Global Securities has “Buy” rating and $45 price target. The stock has “Equal-Weight” rating given by Capital One on Tuesday, November 24. Rodman & Renshaw initiated it with “Buy” rating and $32 target price in Wednesday, October 5 report. On Monday, July 11 the stock rating was upgraded by Johnson Rice to “Buy”. Wunderlich maintained it with “Buy” rating and $25 target price in Monday, August 22 report. The firm earned “Outperform” rating on Monday, July 11 by Northland Capital. On Wednesday, September 9 the stock rating was downgraded by Capital One to “Underweight”.
According to Zacks Investment Research, “Resolute Energy Corporation, formerly Hicks Acquisition Company I, Inc. (HACI), is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties. The company operates producing properties in Utah, which were legacy properties acquired from two major oil companies, in connection with a strategic alliance with Navajo Nation Oil and Gas Company (wholly owned by the Navajo Nation) and in Wyoming and Oklahoma, which were acquired through the acquisition of a privately held oil and gas producer. In addition, Resolute owns exploration properties in Wyoming and Alabama.”
More notable recent Resolute Energy Corp (NYSE:REN) news were published by: Fool.com which released: “2 Signs You Should Sell Resolute Energy Corp.” on November 29, 2016, also Fool.com with their article: “Why Resolute Energy Corp’s Shares Jumped 20% Today” published on October 05, 2016, Fool.com published: “Why Resolute Energy Corp Surged a Stunning 175% in August” on September 01, 2016. More interesting news about Resolute Energy Corp (NYSE:REN) were released by: Marketwired.com and their article: “Resolute Energy Corporation Announces Reverse Stock Split” published on May 27, 2016 as well as Marketwired.com‘s news article titled: “Resolute Energy Corporation Announces September 2016 Investor Events” with publication date: September 01, 2016.
REN Company Profile
Resolute Energy Corporation, incorporated on July 28, 2009, is an independent gas and oil company. The Firm is engaged in the exploitation, development, exploration for and acquisition of gas and oil 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) and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties). The Firm has an interest in gas gathering and compression facilities located within and adjacent to its Aneth Field Properties.
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