Rex Energy (NASDAQ:REXX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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. “

Several other analysts have also weighed in on REXX. Royal Bank of Canada lowered shares of Rex Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $4.00 to $3.00 in a report on Tuesday, October 3rd. KeyCorp reaffirmed a “hold” rating on shares of Rex Energy in a report on Monday, November 13th. SunTrust Banks set a $2.00 price objective on shares of Rex Energy and gave the stock a “hold” rating in a report on Thursday, November 16th. Finally, Northland Securities set a $2.00 price objective on shares of Rex Energy and gave the stock a “hold” rating in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Rex Energy presently has a consensus rating of “Hold” and a consensus price target of $4.79.

Rex Energy (REXX) traded down $0.19 during trading hours on Tuesday, reaching $1.48. 266,979 shares of the company traded hands, compared to its average volume of 727,544. Rex Energy has a 52-week low of $1.25 and a 52-week high of $9.80. The company has a debt-to-equity ratio of -18.86, a current ratio of 0.36 and a quick ratio of 0.33. The firm has a market capitalization of $16.59, a price-to-earnings ratio of -0.12 and a beta of 1.84.

Rex Energy (NASDAQ:REXX) last posted its quarterly earnings data on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.18) by $0.18. The company had revenue of $48.00 million during the quarter, compared to analyst estimates of $46.64 million. Rex Energy had a negative net margin of 61.80% and a negative return on equity of 140.84%. The company’s revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. equities research analysts expect that Rex Energy will post -2.96 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in REXX. First Trust Advisors LP grew its stake in shares of Rex Energy by 115.4% during the fourth quarter. First Trust Advisors LP now owns 6,304,415 shares of the oil and gas exploration company’s stock valued at $6,620,000 after purchasing an additional 3,377,610 shares during the last quarter. Mackay Shields LLC bought a new position in Rex Energy in the second quarter valued at approximately $2,159,000. Loomis Sayles & Co. L P bought a new position in Rex Energy in the first quarter valued at approximately $1,101,000. Norges Bank bought a new position in Rex Energy in the fourth quarter valued at approximately $634,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Rex Energy by 246.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,044,670 shares of the oil and gas exploration company’s stock valued at $1,097,000 after acquiring an additional 742,853 shares during the last quarter. 12.82% of the stock is currently owned by institutional investors and hedge funds.

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About Rex Energy

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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