Barclays Keeps Their Buy Rating on Resolute Energy Corp

By Carrie Williams

In a report issued on December 21, Jeffrey Robertson from Barclays maintained a Buy rating on Resolute Energy Corp (NYSE: REN), with a price target of $36. The company’s shares closed on Friday at $30.02.

According to TipRanks.com, Robertson is a 4-star analyst with an average return of 4.0% and a 51.6% success rate. Robertson covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Vanguard Natural Resources LLC, and CNX Resources Corporation.

Currently, the analyst consensus on Resolute Energy Corp is Strong Buy and the average price target is $37.67, representing a 25.5% upside.

In a report issued on December 6, Goldman Sachs also reiterated a Buy rating on the stock with a $37 price target.

Based on Resolute Energy Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $81.55 million and GAAP net loss of $14.6 million. In comparison, last year the company earned revenue of $47.42 million and had a GAAP net loss of $18.86 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.

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Resolute Energy Corp. engages in the acquisition, development and production of onshore domestic hydrocarbons, principally crude oil. Its property portfolio includes Aneth Field and Permian Basin. The company was founded by Richard F. Betz in 2004 and is headquartered in Denver, CO.