Rex Energy Corp. (REXX) Stock Rating Lowered by Zacks Investment Research
Rex Energy Corp. (NASDAQ:REXX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “
A number of other equities research analysts also recently issued reports on REXX. Stifel Nicolaus raised Rex Energy Corp. from a “sell” rating to a “hold” rating and increased their price target for the stock from $0.50 to $0.52 in a research report on Thursday, September 29th. Wells Fargo & Co. reissued a “hold” rating on shares of Rex Energy Corp. in a research report on Monday, June 20th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $1.90.
Shares of Rex Energy Corp. (NASDAQ:REXX) opened at 0.5654 on Tuesday. The stock has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.71. The firm’s market capitalization is $43.06 million. Rex Energy Corp. has a 1-year low of $0.45 and a 1-year high of $2.79.
Rex Energy Corp. (NASDAQ:REXX) last posted its earnings results on Tuesday, August 2nd. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. Rex Energy Corp. had a negative return on equity of 32.36% and a negative net margin of 229.66%. The company had revenue of $31.30 million for the quarter, compared to the consensus estimate of $43.71 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. Equities research analysts anticipate that Rex Energy Corp. will post ($0.52) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in REXX. Paloma Partners Management Co acquired a new stake in Rex Energy Corp. during the second quarter valued at $130,000. Spark Investment Management LLC purchased a new position in shares of Rex Energy Corp. during the second quarter worth approximately $198,000. Emerald Advisers Inc. PA boosted its position in shares of 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 worth $249,000 after buying an additional 293,546 shares during the last quarter. Bridgeway Capital Management Inc. boosted its position in shares of 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 worth $327,000 after buying an additional 350,000 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of 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 worth $559,000 after buying an additional 159,000 shares during the last quarter. Hedge funds and other institutional investors 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.
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