Market Overview

Sterne Agee Reiterates Resolute Energy at Neutral on Analyst Day

Related REN
Stocks Hitting 52-Week Lows
Earnings Scheduled For March 10, 2014

In a report published on Friday, Sterne Agee analyst Tim Rezvan reiterated a Neutral rating on Resolute Energy (NYSE: REN) following Resolute's analyst day.

In the report, Sterne Agee stated, "Resolute hosted an Analyst Day in Denver Wednesday, providing a deep dive into its asset base. Management expects its divestiture of Bakken assets to close in the next two months, but continued high leverage (we estimate post-sale net debt-TTM EBITDA of 4.6x) is a concern, despite the recent pullback in shares...Resolute reiterated its previous 2013 production guidance of 13-15 mboe/d and capital spending of $195-$220 million. "

Resolute Energy closed on Thursday at $7.79.

Posted-In: Sterne Agee Tim RezvanAnalyst Color Reiteration Analyst Ratings

 

Most Popular

Related Articles (REN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free