Equities Analysts Offer Predictions for Rex Energy Corporation’s Q3 2017 Earnings (REXX)
Rex Energy Corporation (NASDAQ:REXX) – Stock analysts at Capital One Financial Corporation cut their Q3 2017 earnings per share estimates for shares of Rex Energy Corporation in a research report issued to clients and investors on Tuesday. Capital One Financial Corporation analyst B. Velie now forecasts that the oil and gas exploration company will post earnings of ($1.49) per share for the quarter, down from their prior estimate of ($1.03).
Rex Energy Corporation (NASDAQ:REXX) last issued its earnings results on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.04. Rex Energy Corporation had a negative return on equity of 140.84% and a negative net margin of 37.94%. The company had revenue of $47.50 million for the quarter, compared to analyst estimates of $48.49 million. During the same period in the prior year, the firm posted ($0.07) EPS. The business’s revenue was up 51.8% compared to the same quarter last year.
A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Rex Energy Corporation from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Thursday, August 31st. Royal Bank Of Canada set a $4.00 price objective on Rex Energy Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. Northland Securities set a $4.00 price objective on Rex Energy Corporation and gave the stock a “hold” rating in a report on Monday, August 21st. Finally, ValuEngine cut Rex Energy Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.90.
Rex Energy Corporation (NASDAQ REXX) opened at 2.21 on Thursday. The firm has a 50-day moving average price of $2.42 and a 200 day moving average price of $1.98. The firm’s market capitalization is $21.36 million. Rex Energy Corporation has a 12 month low of $2.10 and a 12 month high of $9.80.
A number of institutional investors and hedge funds have recently modified their holdings of REXX. Bank of America Corp DE boosted its position in Rex Energy Corporation by 30,715.1% during 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 acquiring an additional 335,102 shares during the last quarter. Primecap Management Co. CA lifted its position in Rex Energy Corporation by 4.6% in the 1st 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 acquiring an additional 150,000 shares in the last quarter. Spark Investment Management LLC bought a new position in Rex Energy Corporation in the 2nd quarter valued at about $194,000. Finally, KBC Group NV lifted its position in Rex Energy Corporation by 19.0% in the 1st quarter. KBC Group NV now owns 417,214 shares of the oil and gas exploration company’s stock valued at $196,000 after acquiring an additional 66,559 shares in the last quarter. 14.72% of the stock is currently owned by institutional investors and hedge funds.
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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