Royal Bank Of Canada lowered shares of Rex Energy Corporation (NASDAQ:REXX) from an outperform rating to a sector perform rating in a research note released on Tuesday, MarketBeat reports. The firm currently has $3.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $4.00.

REXX has been the topic of several other research reports. Northland Securities set a $4.00 price objective on Rex Energy Corporation and gave the stock a hold rating in a research report on Monday, July 17th. Zacks Investment Research raised Rex Energy Corporation from a hold rating to a buy rating and set a $2.50 price objective on the stock in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Rex Energy Corporation currently has an average rating of Hold and a consensus price target of $5.84.

Rex Energy Corporation (NASDAQ REXX) traded down 5.79% during midday trading on Tuesday, reaching $2.44. The company had a trading volume of 151,942 shares. The stock’s 50 day moving average is $2.35 and its 200 day moving average is $2.14. Rex Energy Corporation has a 12-month low of $2.10 and a 12-month high of $9.80. The firm’s market capitalization is $23.59 million.

Rex Energy Corporation (NASDAQ:REXX) last posted its quarterly earnings data on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $47.50 million for the quarter, compared to analysts’ expectations of $48.49 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The business’s revenue was up 51.8% on a year-over-year basis. Equities research analysts expect that Rex Energy Corporation will post ($3.69) earnings per share for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the business. Spark Investment Management LLC bought a new stake in shares of Rex Energy Corporation in the second quarter valued at $194,000. Bank of America Corp DE raised its stake 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 period. KBC Group NV raised its stake 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 period. Finally, Primecap Management Co. CA raised its stake 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 period. Hedge funds and other institutional investors own 14.72% of the company’s stock.

Rex Energy Corporation Company Profile

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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