Rex Energy Corporation (NASDAQ:REXX) Given Consensus Rating of “Hold” by Brokerages
Rex Energy Corporation (NASDAQ:REXX) has been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.58.
A number of research analysts have recently issued reports on REXX shares. Northland Securities set a $4.00 price target on shares of Rex Energy Corporation and gave the stock a “hold” rating in a research note on Monday, July 17th. ValuEngine lowered shares of Rex Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $4.00 price target on shares of Rex Energy Corporation in a research note on Thursday, July 20th. Finally, S&P Equity Research dropped their price target on shares of Rex Energy Corporation from $5.00 to $4.00 in a research note on Monday, May 1st.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its position in shares of Rex Energy Corporation by 30,715.1% in the first quarter. Bank of America Corp DE now owns 336,193 shares of the oil and gas exploration company’s stock valued at $158,000 after buying an additional 335,102 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of Rex Energy Corporation during the second quarter valued at $194,000. KBC Group NV raised its position in shares of Rex Energy Corporation by 19.0% in the first quarter. KBC Group NV now owns 417,214 shares of the oil and gas exploration company’s stock valued at $196,000 after buying an additional 66,559 shares during the last quarter. Norges Bank bought a new position in shares of Rex Energy Corporation during the fourth quarter valued at $634,000. Finally, Primecap Management Co. CA raised its position in shares of Rex Energy Corporation by 4.6% in the first quarter. Primecap Management Co. CA now owns 3,425,000 shares of the oil and gas exploration company’s stock valued at $1,608,000 after buying an additional 150,000 shares during the last quarter.
Shares of Rex Energy Corporation (REXX) traded down 1.75% during mid-day trading on Friday, hitting $2.81. The stock had a trading volume of 38,886 shares. Rex Energy Corporation has a 12 month low of $2.30 and a 12 month high of $9.80. The stock’s 50-day moving average is $2.95 and its 200 day moving average is $1.56. The firm’s market cap is $27.82 million.
Rex Energy Corporation (NASDAQ:REXX) last issued its quarterly earnings results on Tuesday, May 9th. The oil and gas exploration company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.20. Rex Energy Corporation had a negative net margin of 68.86% and a negative return on equity of 81.76%. The business had revenue of $52.07 million for the quarter, compared to analyst estimates of $48.32 million. During the same period in the previous year, the business posted ($2.30) earnings per share. The business’s revenue was up 102.7% compared to the same quarter last year. Equities research analysts predict that Rex Energy Corporation will post ($3.19) earnings per share for the current fiscal year.
About Rex Energy Corporation
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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