Rex Energy Corporation (REXX) Lowered to Hold at Zacks Investment Research
Rex Energy Corporation (NASDAQ:REXX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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 analysts also recently issued reports on REXX. Northland Securities set a $4.00 price objective on shares of Rex Energy Corporation and gave the company a “hold” rating in a research note on Monday, August 21st. Royal Bank Of Canada set a $4.00 price objective on shares of Rex Energy Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. S&P Equity Research upped their price objective on shares of Rex Energy Corporation from $3.92 to $4.71 in a research note on Monday, May 15th. Finally, ValuEngine raised shares of Rex Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Rex Energy Corporation currently has a consensus rating of “Hold” and a consensus price target of $5.94.
Shares of Rex Energy Corporation (NASDAQ REXX) opened at 2.31 on Wednesday. The stock’s market capitalization is $22.33 million. The company has a 50 day moving average price of $2.73 and a 200-day moving average price of $1.78. Rex Energy Corporation has a 52-week low of $2.20 and a 52-week high of $9.80.
Rex Energy Corporation (NASDAQ:REXX) last announced its quarterly earnings data on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.04. The business had revenue of $47.50 million for the quarter, compared to the consensus estimate of $48.49 million. Rex Energy Corporation had a negative net margin of 37.94% and a negative return on equity of 140.84%. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, analysts predict that Rex Energy Corporation will post ($3.69) earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Rex Energy Corporation during the fourth quarter worth $634,000. KBC Group NV increased its position in 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 worth $196,000 after buying an additional 66,559 shares in the last quarter. Primecap Management Co. CA increased its position in 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 worth $1,608,000 after buying an additional 150,000 shares in the last quarter. Bank of America Corp DE increased its position in 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 worth $158,000 after buying an additional 335,102 shares in the last quarter. Finally, Spark Investment Management LLC bought a new position in Rex Energy Corporation during the second quarter worth $194,000. 16.84% of the stock is currently owned by institutional investors.
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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