Q3 2017 EPS Estimates for Rex Energy Corporation Lowered by KeyCorp (REXX)
Rex Energy Corporation (NASDAQ:REXX) – Equities research analysts at KeyCorp dropped their Q3 2017 earnings per share estimates for Rex Energy Corporation in a research note issued on Wednesday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and gas exploration company will post earnings of ($1.12) per share for the quarter, down from their prior forecast of ($1.09).
Rex Energy Corporation (NASDAQ:REXX) last issued its quarterly earnings results on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) EPS 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 firm had revenue of $47.50 million during the quarter, compared to analysts’ expectations of $48.49 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis.
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Several other equities analysts also recently weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Rex Energy Corporation in a research note on Thursday, July 20th. Northland Securities set a $4.00 price objective on Rex Energy Corporation and gave the company a “hold” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research raised Rex Energy Corporation from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $5.84.
Shares of Rex Energy Corporation (REXX) opened at 2.45 on Friday. Rex Energy Corporation has a 12 month low of $2.10 and a 12 month high of $9.80. The company’s 50 day moving average price is $2.37 and its 200 day moving average price is $2.20. The stock’s market capitalization is $23.68 million.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC purchased a new position in Rex Energy Corporation in the 2nd quarter valued at approximately $194,000. Bank of America Corp DE increased its stake in Rex Energy Corporation by 30,715.1% in the 1st 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 purchasing an additional 335,102 shares in the last quarter. Finally, KBC Group NV increased its stake 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 purchasing an additional 66,559 shares in the last quarter. 14.72% of the stock is owned by hedge funds and other 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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