The stock of Resolute Energy Corp (NYSE:REN) hit a new 52-week high and has $42.09 target or 32.00% above today’s $31.89 share price. The 7 months bullish chart indicates low risk for the $504.16 million company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $42.09 price target is reached, the company will be worth $161.33M 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 309,259 shares traded hands. Resolute Energy Corp (NYSE:REN) has risen 984.59% since March 15, 2016 and is uptrending. It has outperformed by 979.11% the S&P500.
Analysts await Resolute Energy Corp (NYSE:REN) to report earnings on November, 14. They expect $0.31 EPS, up 144.29% or $1.01 from last year’s $-0.7 per share. REN’s profit will be $4.90 million for 25.75 P/E if the $0.31 EPS becomes a reality. After $-2.44 actual EPS 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. $45 is the highest target while $0.50 is the lowest. The $14.31 average target is -55.13% below today’s ($31.89) stock price. Resolute Energy has been the topic of 16 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Wunderlich on Monday, August 22 with “Buy”. Barclays Capital upgraded the stock to “Equal-Weight” rating in Wednesday, July 13 report. The stock of Resolute Energy Corp (NYSE:REN) has “Buy” rating given on Wednesday, October 5 by Seaport Global Securities. The firm has “Neutral” rating by SunTrust given on Wednesday, August 12. The rating was downgraded by Capital One on Wednesday, September 9 to “Underweight”. The firm has “Equal-Weight” rating by Capital One given on Tuesday, November 24. On Monday, July 11 the stock rating was upgraded by Wunderlich to “Buy”. Wunderlich maintained Resolute Energy Corp (NYSE:REN) rating on Thursday, October 6. Wunderlich has “Buy” rating and $40 price target. As per Tuesday, June 14, the company rating was maintained by Barclays Capital. The stock has “Outperform” rating given by Northland Capital on Monday, July 11.
More recent Resolute Energy Corp (NYSE:REN) news were published by: Fool.com which released: “Why Resolute Energy Corp Surged a Stunning 175% in August” on September 01, 2016. Also Marketwired.com published the news titled: “Resolute Energy Corporation Announces $135 Million Delaware Basin Acquisition” on October 05, 2016. Seekingalpha.com‘s news article titled: “Resolute Energy: In Position To Issue Equity” with publication date: October 09, 2016 was also an interesting one.
Resolute Energy Corporation is an independent gas and oil company. The company has a market cap of $504.16 million. The Firm is engaged in the exploitation, development, exploration for and acquisition of gas and oil properties. It currently has negative earnings. The Company’s properties are Aneth Field located in the Paradox Basin in southeast Utah , and the Permian Basin in Texas and southeast New Mexico (the Permian Properties or Permian Basin Properties).
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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