The stock of Resolute Energy Corp (NYSE:REN) hit a new 52-week high and has $54.78 target or 59.00% above today’s $34.45 share price. The 5 months bullish chart indicates low risk for the $627.35 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $54.78 price target is reached, the company will be worth $370.14M 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 973,881 shares traded hands or 8.31% up from the average. Resolute Energy Corp (NYSE:REN) has risen 938.00% since April 19, 2016 and is uptrending. It has outperformed by 934.14% the S&P500.
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. The firm has “Buy” rating by Johnson Rice given on Monday, July 11. Barclays Capital maintained Resolute Energy Corp (NYSE:REN) rating on Tuesday, June 14. Barclays Capital has “Underweight” rating and $4 price target. Capital One upgraded the stock to “Equal-Weight” rating in Tuesday, November 24 report. The stock of Resolute Energy Corp (NYSE:REN) has “Equal-Weight” rating given on Wednesday, July 13 by Barclays Capital. The firm has “Buy” rating by Rodman & Renshaw given on Wednesday, October 5. The rating was upgraded by Northland Capital to “Outperform” on Monday, July 11. Capital One downgraded Resolute Energy Corp (NYSE:REN) on Wednesday, September 9 to “Underweight” rating. Wunderlich maintained Resolute Energy Corp (NYSE:REN) rating on Thursday, October 6. Wunderlich has “Buy” rating and $40 price target. Seaport Global Securities initiated the stock with “Buy” rating in Wednesday, October 5 report. The stock of Resolute Energy Corp (NYSE:REN) earned “Market Perform” rating by Northland Capital on Wednesday, August 12.
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 important 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 article titled: “Resolute Energy Corporation Announces Reverse Stock Split”, Fool.com published: “Why Resolute Energy Corp’s Shares Jumped 20% Today” on October 05, 2016. More interesting news about Resolute Energy Corp (NYSE:REN) was released by: Marketwired.com and their article: “Resolute Energy Corporation Completes Closing of Delaware Basin Acquisition …” with publication date: October 07, 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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