Zacks Investment Research cut shares of Rex Energy Corp. (NASDAQ:REXX) from a hold rating to a sell rating in a research report released 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. “
Other equities research analysts have also issued research reports about the stock. Wells Fargo & Co. reaffirmed a hold rating on shares of Rex Energy Corp. in a research report on Monday, June 20th. Stifel Nicolaus raised shares of Rex Energy Corp. from a sell rating to a hold rating and upped their price target for the company from $0.50 to $0.52 in a research report on Thursday, September 29th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. The company has a consensus rating of Hold and a consensus price target of $1.90.
Rex Energy Corp. (NASDAQ:REXX) traded up 0.53% during mid-day trading on Tuesday, reaching $0.57. 115,953 shares of the company were exchanged. The company’s market capitalization is $43.41 million. The stock has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.71. Rex Energy Corp. has a one year low of $0.45 and a one year high of $2.79.
Rex Energy Corp. (NASDAQ:REXX) last released its quarterly earnings results on Tuesday, August 2nd. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. Rex Energy Corp. had a negative net margin of 229.66% and a negative return on equity of 32.36%. The firm earned $31.30 million during the quarter, compared to analyst estimates of $43.71 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. Analysts predict that Rex Energy Corp. will post ($0.52) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of REXX. Paloma Partners Management Co acquired a new position in Rex Energy Corp. during the second quarter valued at $130,000. Spark Investment Management LLC acquired a new position in Rex Energy Corp. during the second quarter valued at $198,000. Emerald Advisers Inc. PA increased its position in Rex Energy Corp. by 354.7% in the second quarter. Emerald Advisers Inc. PA now owns 376,310 shares of the oil and gas exploration company’s stock valued at $249,000 after buying an additional 293,546 shares during the last quarter. Bridgeway Capital Management Inc. increased its position in Rex Energy Corp. by 240.9% in the second quarter. Bridgeway Capital Management Inc. now owns 495,300 shares of the oil and gas exploration company’s stock valued at $327,000 after buying an additional 350,000 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Rex Energy Corp. by 23.1% in the second quarter. California Public Employees Retirement System now owns 846,800 shares of the oil and gas exploration company’s stock valued at $559,000 after buying an additional 159,000 shares during the last quarter. Institutional investors and hedge funds own 22.97% of the company’s stock.
Rex Energy Corp. 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.