Resolute Energy Corporation is an independent oil and gas company engaged in the acquisition, exploitation and development of oil and gas properties that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on REN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Resolute Energy could be a solid choice for investors.

Current Quarter Estimates for REN

In the past 30 days, 2 estimates have gone higher for Resolute Energy while 2 have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 5 cents a share 30 days ago, to breaking-even today, a significant move.

Current Year Estimates for REN

Meanwhile, Resolute Energy’s current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 54 cents per share 30 days ago to a loss of 18 cents per share today, an increase of 66.7%.

Bottom Line

The stock has also started to move higher lately, adding 95.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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