Zacks Investment Research upgraded shares of Resolute Energy (NYSE:REN) from a hold rating to a strong-buy rating in a research note released on Wednesday. Zacks Investment Research currently has $39.00 price target on the oil and gas exploration company’s stock.
According to Zacks, “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. “
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Resolute Energy from a hold rating to a sell rating in a research report on Friday, February 2nd. SunTrust Banks reissued a buy rating on shares of Resolute Energy in a research report on Friday, November 10th. BMO Capital Markets set a $35.00 price target on Resolute Energy and gave the stock a hold rating in a research report on Tuesday, October 24th. Goldman Sachs Group set a $37.00 price target on Resolute Energy and gave the stock a buy rating in a research report on Wednesday, December 6th. Finally, Northland Securities set a $40.00 price target on Resolute Energy and gave the stock a buy rating in a research report on Monday, December 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $43.89.
In other news, Director James E. Duffy sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $28.04, for a total transaction of $56,080.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas J. Sutton sold 9,999 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $27.29, for a total value of $272,872.71. The disclosure for this sale can be found here. Insiders have sold 19,999 shares of company stock worth $559,458 in the last 90 days. Insiders own 7.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its holdings in shares of Resolute Energy by 6.7% during the second quarter. Parametric Portfolio Associates LLC now owns 7,507 shares of the oil and gas exploration company’s stock worth $223,000 after purchasing an additional 470 shares during the last quarter. Brown Advisory Inc. acquired a new stake in shares of Resolute Energy during the third quarter worth $233,000. UBS Asset Management Americas Inc. boosted its holdings in shares of Resolute Energy by 63.0% during the second quarter. UBS Asset Management Americas Inc. now owns 8,800 shares of the oil and gas exploration company’s stock worth $262,000 after purchasing an additional 3,400 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Resolute Energy during the third quarter worth $270,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Resolute Energy during the second quarter worth $285,000.
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Resolute Energy Company Profile
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 assets are located primarily in the Delaware Basin in west Texas (the Permian Properties or Permian Basin Properties) and Aneth Field located in the Paradox Basin in southeast Utah (the Aneth Field Properties or Aneth Field).
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