Zacks Investment Research upgraded shares of Rex Energy (NASDAQ:REXX) from a sell rating to a hold rating in a research report sent to 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. “
REXX has been the topic of a number of other reports. KeyCorp reissued a hold rating on shares of Rex Energy in a report on Monday, November 13th. Royal Bank of Canada lowered Rex Energy from an outperform rating to a sector perform rating and lowered their price target for the company from $4.00 to $3.00 in a report on Tuesday, October 3rd. SunTrust Banks set a $2.00 price target on Rex Energy and gave the company a hold rating in a report on Thursday, November 16th. Finally, Northland Securities set a $2.00 price target on Rex Energy and gave the company a hold rating in a report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $4.79.
Shares of Rex Energy (NASDAQ REXX) traded down $0.01 during midday trading on Tuesday, reaching $1.52. The company’s stock had a trading volume of 167,300 shares, compared to its average volume of 613,833. Rex Energy has a 1 year low of $1.25 and a 1 year high of $9.30. 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 $15.21, a price-to-earnings ratio of -0.12 and a beta of 1.84.
Rex Energy (NASDAQ:REXX) last issued its quarterly earnings results on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 41.2% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. equities research analysts predict that Rex Energy will post -2.96 earnings per share for the current year.
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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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