Rex Energy Corp. (REXX) Stock Rating Lowered by Zacks Investment Research
Rex Energy Corp. (NASDAQ:REXX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to 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. “
Other research analysts also recently issued reports about the company. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Rex Energy Corp. in a report on Monday, June 20th. Stifel Nicolaus raised Rex Energy Corp. from a “sell” rating to a “hold” rating and upped their price target for the company from $0.50 to $0.52 in a report on Thursday, September 29th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $1.90.
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Rex Energy Corp. (NASDAQ:REXX) traded up 0.48% on Tuesday, reaching $0.56. The company’s stock had a trading volume of 50,144 shares. The stock has a 50-day moving average of $0.54 and a 200-day moving average of $0.71. The stock’s market cap is $42.65 million. Rex Energy Corp. has a one year low of $0.45 and a one year high of $2.85.
Rex Energy Corp. (NASDAQ:REXX) last announced its quarterly earnings results on Tuesday, August 2nd. The oil and gas exploration company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The firm had revenue of $31.30 million for the quarter, compared to the consensus estimate of $43.71 million. Rex Energy Corp. had a negative return on equity of 32.36% and a negative net margin of 229.66%. The company’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. On average, analysts predict that Rex Energy Corp. will post ($0.52) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Paloma Partners Management Co bought a new stake in shares of Rex Energy Corp. during the second quarter worth approximately $130,000. Bridgeway Capital Management Inc. boosted its stake in shares of Rex Energy Corp. by 240.9% in the second quarter. Bridgeway Capital Management Inc. now owns 495,300 shares of the oil and gas exploration company’s stock worth $327,000 after buying an additional 350,000 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Rex Energy Corp. during the second quarter worth approximately $198,000. Franklin Resources Inc. bought a new stake in shares of Rex Energy Corp. during the second quarter worth approximately $1,658,000. Finally, California Public Employees Retirement System boosted its stake in shares of 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. Institutional investors and hedge funds own 22.97% of the company’s stock.
Rex Energy Corp. 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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