Rex Energy Corp. (NASDAQ:REXX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Rex Energy Corporation is an independent oil and gas company operating in the Illinois Basin, the Appalachian Basin and the southwestern region of the United States. The Company pursues a balanced growth strategy of exploiting its sizable inventory of lower-risk developmental drilling locations, pursuing its higher-potential exploration drilling and enhanced oil recovery projects, and actively seeking to acquire complementary oil and natural gas properties. “

Several other equities research analysts have also issued reports on the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Rex Energy Corp. in a research report on Monday, June 20th. Stifel Nicolaus raised Rex Energy Corp. from a “sell” rating to a “hold” rating and raised their target price for the company from $0.50 to $0.52 in a research report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Rex Energy Corp. presently has an average rating of “Hold” and a consensus price target of $1.90.

Analyst Recommendations for Rex Energy Corp. (NASDAQ:REXX)

Rex Energy Corp. (NASDAQ:REXX) traded up 0.48% during midday trading on Tuesday, reaching $0.56. 50,144 shares of the company traded hands. The firm has a 50-day moving average price of $0.54 and a 200-day moving average price of $0.71. Rex Energy Corp. has a one year low of $0.45 and a one year high of $2.85. The firm’s market capitalization is $42.65 million.

Rex Energy Corp. (NASDAQ:REXX) last announced its earnings results on Tuesday, August 2nd. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. Rex Energy Corp. had a negative return on equity of 32.36% and a negative net margin of 229.66%. The firm earned $31.30 million during the quarter, compared to analyst estimates of $43.71 million. During the same period last year, the firm posted ($0.22) EPS. The business’s revenue was down 12.6% compared to the same quarter last year. Equities analysts predict that Rex Energy Corp. will post ($0.52) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackay Shields LLC bought a new position in Rex Energy Corp. during the second quarter worth $2,159,000. Franklin Resources Inc. bought a new position in Rex Energy Corp. during the second quarter worth $1,658,000. Loomis Sayles & Co. L P bought a new position in Rex Energy Corp. during the first quarter worth $1,101,000. Goldman Sachs Group Inc. raised its position in 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 last quarter. Finally, California Public Employees Retirement System raised its position in Rex Energy Corp. by 23.1% in the second quarter. California Public Employees Retirement System now owns 846,800 shares of the oil and gas exploration company’s stock worth $559,000 after buying an additional 159,000 shares during the last quarter. 22.97% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:REXX

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