Zacks Investment Research downgraded shares of Rex Energy (NASDAQ:REXX) from a hold rating to a sell rating in a report released on Thursday morning.
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 have also commented on REXX. Royal Bank of Canada lowered Rex Energy from an outperform rating to a sector perform rating and decreased their price target for the stock from $4.00 to $3.00 in a research report on Tuesday, October 3rd. Northland Securities set a $4.00 price target on Rex Energy and gave the stock a hold rating in a research report on Monday, August 21st. KeyCorp reiterated a hold rating on shares of Rex Energy in a research report on Monday, November 13th. Finally, SunTrust Banks set a $2.00 price objective on Rex Energy and gave the company a hold rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Rex Energy has a consensus rating of Hold and a consensus target price of $4.79.
Rex Energy (NASDAQ:REXX) traded up $0.10 during mid-day trading on Thursday, hitting $1.38. The stock had a trading volume of 190,734 shares, compared to its average volume of 159,335. 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 quick ratio of 0.33 and a current ratio of 0.36.
Rex Energy (NASDAQ:REXX) last released its quarterly earnings data on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.18) by $0.18. The company had revenue of $48.00 million for the quarter, compared to analyst estimates of $46.64 million. Rex Energy had a negative return on equity of 140.84% and a negative net margin of 61.80%. The company’s revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. analysts forecast that Rex Energy will post -2.96 earnings per share for the current year.
An institutional investor recently raised its position in Rex Energy stock. Bank of America Corp DE raised its position in Rex Energy Corporation (NASDAQ:REXX) by 30,715.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 336,193 shares of the oil and gas exploration company’s stock after buying an additional 335,102 shares during the period. Bank of America Corp DE owned about 0.35% of Rex Energy worth $158,000 as of its most recent filing with the SEC. 12.82% of the stock is currently owned by institutional investors and hedge funds.
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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.
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