Rex Energy Corporation (REXX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Rex Energy Corporation (NASDAQ:REXX) posted its earnings results on Tuesday. The oil and gas exploration company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.04, Morningstar.com reports. The company had revenue of $47.50 million during the quarter, compared to the consensus estimate of $48.49 million. Rex Energy Corporation had a negative net margin of 68.86% and a negative return on equity of 81.76%. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) earnings per share.
Rex Energy Corporation (NASDAQ:REXX) opened at 2.74 on Wednesday. The firm has a 50-day moving average of $2.91 and a 200-day moving average of $1.59. Rex Energy Corporation has a 1-year low of $0.23 and a 1-year high of $4.71. The stock’s market capitalization is $26.35 million.
Several hedge funds have recently made changes to their positions in the company. 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 worth $158,000 after buying an additional 335,102 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of Rex Energy Corporation during the second quarter worth approximately $194,000. 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 worth $196,000 after buying an additional 66,559 shares in the last quarter. Norges Bank bought a new stake in shares of Rex Energy Corporation during the fourth quarter worth approximately $634,000. 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 worth $1,608,000 after buying an additional 150,000 shares in the last quarter.
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A number of equities research analysts have issued reports on the stock. S&P Equity Research upped their price objective on shares of Rex Energy Corporation from $3.92 to $4.71 in a research report on Monday, May 15th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Rex Energy Corporation in a research report on Thursday, July 20th. ValuEngine downgraded shares of Rex Energy Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Finally, Northland Securities set a $4.00 price objective on shares of Rex Energy Corporation and gave the stock a “hold” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.58.
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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