Resolute Energy Corp Receives a Buy from BMO Capital

By Austin Angelo

BMO Capital analyst Dan McSpirit reiterated a Buy rating on Resolute Energy Corp (NYSE: REN) today and set a price target of $50. The company’s shares closed yesterday at $36.15.

According to TipRanks.com, McSpirit is a 4-star analyst with an average return of 5.0% and a 51.3% success rate. McSpirit covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Jagged Peak Energy Inc, and Rosetta Resources Inc.

Resolute Energy Corp has an analyst consensus of Moderate Buy, with a price target consensus of $50.

Based on Resolute Energy Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $47.42 million and GAAP net loss of $18.86 million. In comparison, last year the company earned revenue of $28.5 million and had a GAAP net loss of $92.18 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Most recently, in January 2017, Thomas O. Hicks, a Director at REN sold 10,000 shares for a total of $400,500.

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Resolute Energy Corp. engages in the exploration, exploitation, and development of oil and gas properties. Its property portfolio includes Aneth Field and Perian Basin. The company was founded by Richard F. Betz in 2004 and is headquartered in Denver, CO.