Rex Energy Corp. (REXX) Upgraded by Stifel Nicolaus to “Hold”
Stifel Nicolaus upgraded shares of Rex Energy Corp. (NASDAQ:REXX) from a sell rating to a hold rating in a report issued on Thursday. The brokerage currently has $0.52 target price on the oil and gas exploration company’s stock, up from their prior target price of $0.50.
REXX has been the subject of several other research reports. Zacks Investment Research downgraded shares of Rex Energy Corp. from a buy rating to a hold rating in a research report on Wednesday, August 17th. Wells Fargo & Co. reaffirmed a hold rating on shares of Rex Energy Corp. in a research report on Monday, June 20th. Eight equities research analysts have rated the stock with a hold rating, Rex Energy Corp. currently has an average rating of Hold and a consensus price target of $1.90.
Shares of Rex Energy Corp. (NASDAQ:REXX) traded up 2.75% during mid-day trading on Thursday, reaching $0.58. 649,017 shares of the company were exchanged. Rex Energy Corp. has a 12 month low of $0.45 and a 12 month high of $3.34. The stock’s market capitalization is $44.17 million. The stock has a 50 day moving average price of $0.55 and a 200-day moving average price of $0.76.
Rex Energy Corp. (NASDAQ:REXX) last issued its quarterly earnings data on Tuesday, August 2nd. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. Rex Energy Corp. had a negative net margin of 229.66% and a negative return on equity of 32.36%. The company earned $31.30 million during the quarter, compared to the consensus estimate of $43.71 million. During the same quarter last year, the company earned ($0.22) earnings per share. Rex Energy Corp.’s revenue for the quarter was down 12.6% on a year-over-year basis. Analysts predict that Rex Energy Corp. will post ($0.52) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackay Shields LLC acquired a new position in shares of Rex Energy Corp. during the second quarter worth approximately $2,159,000. Franklin Resources Inc. acquired a new position in shares of Rex Energy Corp. during the second quarter worth approximately $1,658,000. Loomis Sayles & Co. L P acquired a new position in shares of Rex Energy Corp. during the first quarter worth approximately $1,101,000. Goldman Sachs Group Inc. raised its position in shares of Rex Energy Corp. by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,318,698 shares of the oil and gas exploration company’s stock worth $1,013,000 after buying an additional 491,056 shares during the period. Finally, Bridgeway Capital Management Inc. raised its position in shares of Rex Energy Corp. by 240.9% in the second quarter. Bridgeway Capital Management Inc. now owns 495,300 shares of the oil and gas exploration company’s stock worth $327,000 after buying an additional 350,000 shares during the period. 22.97% of the stock is currently owned by institutional investors.
About Rex Energy Corp.
Rex Energy Corporation is an independent oil, natural gas liquid (NGL) and natural gas company. The Company has operations in the Appalachian Basin and Illinois Basin. In the Appalachian Basin, the Company is focused on its Marcellus Shale, Utica Shale and Upper Devonian (Burkett) Shale drilling and exploration activities.
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