Notable Price Action: After Reaching 52-Week High, Is Resolute Energy Corp’s Near-Term Analysis Positive?

Notable Price Action: After Reaching 52 Week High, Is Resolute Energy Corp's Near Term Analysis Positive?

The stock of Resolute Energy Corp (NYSE:REN) hit a new 52-week high and has $55.17 target or 89.00% above today’s $29.19 share price. The 5 months bullish chart indicates low risk for the $449.75 million company. The 1-year high was reported on Oct, 5 by Barchart.com. If the $55.17 price target is reached, the company will be worth $400.28M 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 2.09M shares traded hands or 22.94% up from the average. Resolute Energy Corp (NYSE:REN) has risen 833.82% since March 2, 2016 and is uptrending. It has outperformed by 825.56% the S&P500.

Analysts await Resolute Energy Corp (NYSE:REN) to report earnings on November, 14. They expect $0.31 earnings per share, up 144.29% or $1.01 from last year’s $-0.7 per share. REN’s profit will be $4.78 million for 23.54 P/E if the $0.31 EPS becomes a reality. After $-2.44 actual earnings per share reported by Resolute Energy Corp for the previous quarter, Wall Street now forecasts -112.70% 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 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Capital One downgraded Resolute Energy Corp (NYSE:REN) on Wednesday, September 9 to “Underweight” rating. The firm has “Buy” rating given on Monday, July 11 by Wunderlich. The stock has “Buy” rating given by Rodman & Renshaw on Wednesday, October 5. The stock has “Buy” rating given by Johnson Rice on Monday, July 11. The firm earned “Underweight” rating on Tuesday, June 14 by Barclays Capital. Northland Capital maintained Resolute Energy Corp (NYSE:REN) on Wednesday, August 12 with “Market Perform” rating. As per Wednesday, August 12, the company rating was maintained by SunTrust. As per Monday, July 11, the company rating was upgraded by Northland Capital. The firm earned “Equal-Weight” rating on Tuesday, November 24 by Capital One. The firm has “Buy” rating by Wunderlich given on Monday, August 22.

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 news for Resolute Energy Corp (NYSE:REN) were recently published by: Reuters.com, which released: “BRIEF-Resolute Energy Corp announces private offering” on September 29, 2016. Marketwired.com‘s article titled: “Resolute Energy Corporation Announces Private Offering of 55000 Shares of 8 1 …” and published on October 05, 2016 is yet another important article.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment