Resolute Energy Corp: Kemc Fund Iv Gp Bought Stake

June 14, 2018 - By Carrie Sands

The New Kemc Fund Iv Gp Holding in Resolute Energy Corp

Kemc Fund Iv Gp reported SC 13D form with the SEC for Resolute Energy Corp. Access it here: 000119312518192102. As reported by Kemc Fund Iv Gp, the filler owns 6.8% or 1,582,052 shares of the Energy–company.

Resolute Energy Corp stake is new for [reportingPerson]. Date of activity: June4, 2018. This shows Kemc Fund Iv Gp’s positive view for Resolute Energy Corp.

Reasons Why Kemc Fund Iv Gp Bought – Resolute Energy Corp Stock

Item4. Purpose of Transaction

TheReporting Person acquired the Shares over which it exercises beneficial ownership on behalf of the Kimmeridge Funds in the belief that the Shares are undervalued and are an attractive investment.

The Reporting Person is broadly supportive of the Issuer’s agreement with Monarch Alternative Capital LP regarding the review ofpotential strategic alternatives. The Kimmeridge Principals have consistently expressed to the Issuer’s management that they believe the Issuer is subscale and that the Issuer should pursue strategic alternatives, including a potential mergerwith a similarly positioned oil and gas company, a sale of the Issuer or take private transaction.

The Reporting Person and theKimmeridge Principals intend to review the Kimmeridge Funds’ investment in the Issuer on a continuing basis and may from time to time and at any time in the future depending on various factors, including, without limitation, the Issuer’sfinancial position and strategic direction, actions taken by the Issuer’s Board of Directors and management, price levels of the Common Stock, other investment opportunities available to them, conditions in the securities market and generaleconomic and industry conditions, take such actions with respect to such investments in the Issuer as they deem appropriate. These actions may include, without limitation: (i)acquiring additional Common Stock and/or other equity, debt, notes,other securities, or derivative or other instruments that are convertible into Common Stock, or are based upon or relate to the value of the Common Stock or the Issuer (collectively, “Securities”) in the open market or otherwise;(ii)disposing of any or all of their Securities in the open market or otherwise; (iii)engaging in any hedging or similar transactions with respect to the Securities; or (iv)proposing or considering one or more of the actionsdescribed in subsections (a)through (j) of Item 4 of Schedule 13D.

SEC Form 13D.

Analysts await Resolute Energy Corporation (NYSE:REN) to report earnings on August, 6. They expect $0.31 EPS, down 34.04 % or $0.16 from last year’s $0.47 per share. REN’s profit will be $7.06M for 24.66 P/E if the $0.31 EPS becomes a reality. After $0.14 actual EPS reported by Resolute Energy Corporation for the previous quarter, Wall Street now forecasts 121.43 % EPS growth.

The stock decreased 4.79% or $1.54 during the last trading session, reaching $30.58. About 523,273 shares traded. Resolute Energy Corporation (NYSE:REN) has declined 14.53% since June 14, 2017 and is downtrending. It has underperformed by 27.10% the S&P500.

Resolute Energy Corporation, an independent gas and oil company, engages in the acquisition, exploitation, exploration for, and development of gas and oil properties in the United States. The company has market cap of $695.96 million. The firm holds interests in Permian Basin Properties covering approximately 23,900 gross acres located in the Permian Basin of Texas and southeast New Mexico; and the Aneth Field Properties consisting of approximately 44,000 gross acres situated in the Paradox Basin in southeast Utah. It currently has negative earnings. As of December 31, 2016, its estimated net proved reserves were approximately 60.3 million barrels of oil equivalent.

Resolute Energy Corporation (NYSE:REN) Ratings Coverage

Among 6 analysts covering Resolute Energy Corp (NYSE:REN), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Resolute Energy Corp has $45.0 highest and $39 lowest target. $41’s average target is 34.07% above currents $30.58 stock price. Resolute Energy Corp had 6 analyst reports since February 5, 2018 according to SRatingsIntel. The company was downgraded on Tuesday, April 3 by Seaport Global. SunTrust downgraded Resolute Energy Corporation (NYSE:REN) on Monday, April 16 to “Hold” rating. FBR Capital initiated Resolute Energy Corporation (NYSE:REN) on Monday, February 5 with “Hold” rating. The firm has “Buy” rating by Northland Capital given on Wednesday, March 14. The firm has “Neutral” rating given on Thursday, April 12 by Goldman Sachs.

Another recent and important Resolute Energy Corporation (NYSE:REN) news was published by Gurufocus.com which published an article titled: “Resolute Energy Corp (REN) CEO Richard F Betz Bought $101500 of Shares” on June 05, 2018.

Resolute Energy Corporation (NYSE:REN) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.