Northland Securities Reiterates “$2.00” Price Target for Rex Energy (REXX)
Northland Securities set a $2.00 target price on Rex Energy (NASDAQ:REXX) in a report released on Monday morning. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.
A number of other analysts 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 objective for the stock from $4.00 to $3.00 in a report on Tuesday, October 3rd. Zacks Investment Research lowered Rex Energy from a buy rating to a hold rating in a report on Tuesday, September 26th. SunTrust Banks set a $2.00 price objective on Rex Energy and gave the stock a hold rating in a report on Thursday, November 16th. Finally, KeyCorp reissued a hold rating on shares of Rex Energy in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Rex Energy currently has an average rating of Hold and a consensus target price of $4.79.
Shares of Rex Energy (REXX) traded down $0.16 on Monday, reaching $1.35. The company’s stock had a trading volume of 419,200 shares, compared to its average volume of 157,915. The company has a debt-to-equity ratio of -18.86, a current ratio of 0.36 and a quick ratio of 0.33. Rex Energy has a 1 year low of $1.27 and a 1 year high of $9.80.
Rex Energy (NASDAQ:REXX) last issued its quarterly earnings data on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.18. The firm had revenue of $48.00 million during 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 for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) EPS. analysts expect that Rex Energy will post -2.96 EPS for the current year.
An institutional investor recently raised its position in Rex Energy stock. Bank of America Corp DE increased its holdings in Rex Energy Corporation (NASDAQ:REXX) by 30,715.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,193 shares of the oil and gas exploration company’s stock after acquiring an additional 335,102 shares during the period. Bank of America Corp DE owned about 0.35% of Rex Energy worth $158,000 at the end of the most recent quarter. Institutional investors own 12.82% of the company’s stock.
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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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