Rex Energy (NASDAQ:REXX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
A number of other research firms also recently commented on REXX. Royal Bank of Canada reaffirmed a “hold” rating and issued a $3.00 price objective on shares of Rex Energy in a report on Thursday, November 9th. Northland Securities set a $2.00 price target on shares of Rex Energy and gave the company a “hold” rating in a report on Monday, December 11th. SunTrust Banks set a $2.00 price target on shares of Rex Energy and gave the company a “hold” rating in a report on Thursday, November 16th. Finally, KeyCorp reissued a “hold” rating on shares of Rex Energy in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company has an average rating of “Hold” and an average target price of $4.79.
Rex Energy (NASDAQ:REXX) last released its quarterly earnings data on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.18. The firm had revenue of $48.00 million during the quarter, compared to the consensus estimate of $46.64 million. Rex Energy had a negative net margin of 61.80% and a negative return on equity of 140.84%. The firm’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.14) earnings per share. research analysts predict that Rex Energy will post -2.96 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Rex Energy (REXX) to “Hold”” was first published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/04/zacks-investment-research-upgrades-rex-energy-rexx-to-hold.html.
Rex Energy 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rex Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rex Energy and related companies with MarketBeat.com's FREE daily email newsletter.