Zacks Investment Research upgraded shares of Rex Energy Corporation (NASDAQ:REXX) from a hold rating to a buy rating in a research note issued to investors on Thursday, August 31st. Zacks Investment Research currently has $2.50 target price on the oil and gas exploration company’s stock.
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 analysts also recently weighed in on the stock. Royal Bank Of Canada reaffirmed a buy rating and issued a $4.00 price target on shares of Rex Energy Corporation in a research note on Thursday, July 20th. ValuEngine downgraded shares of Rex Energy Corporation from a sell rating to a strong sell rating in a research note on Friday, June 2nd. S&P Equity Research upped their price target on shares of Rex Energy Corporation from $3.92 to $4.71 in a research note on Monday, May 15th. Finally, Northland Securities set a $4.00 price target on shares of Rex Energy Corporation and gave the stock a hold rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Rex Energy Corporation has an average rating of Hold and a consensus target price of $5.90.
Shares of Rex Energy Corporation (NASDAQ:REXX) traded down 1.36% on Thursday, reaching $2.17. The company had a trading volume of 85,889 shares. Rex Energy Corporation has a 52-week low of $2.10 and a 52-week high of $9.80. The company has a 50 day moving average price of $2.44 and a 200 day moving average price of $1.97. The stock’s market capitalization is $20.98 million.
Rex Energy Corporation (NASDAQ:REXX) last posted its quarterly earnings results on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.04. Rex Energy Corporation had a negative net margin of 37.94% and a negative return on equity of 140.84%. The business had revenue of $47.50 million for the quarter, compared to the consensus estimate of $48.49 million. During the same period in the prior year, the business posted ($0.07) earnings per share. Rex Energy Corporation’s revenue for the quarter was up 51.8% compared to the same quarter last year. On average, equities research analysts anticipate that Rex Energy Corporation will post ($3.69) earnings per share for the current year.
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A number of large investors have recently modified their holdings of REXX. Bank of America Corp DE boosted its holdings in Rex Energy Corporation by 30,715.1% in the first quarter. Bank of America Corp DE now owns 336,193 shares of the oil and gas exploration company’s stock worth $158,000 after purchasing an additional 335,102 shares in the last quarter. Spark Investment Management LLC bought a new stake in Rex Energy Corporation in the second quarter worth $194,000. KBC Group NV boosted its holdings in Rex Energy Corporation by 19.0% in the first quarter. KBC Group NV now owns 417,214 shares of the oil and gas exploration company’s stock worth $196,000 after purchasing an additional 66,559 shares in the last quarter. Norges Bank bought a new stake in Rex Energy Corporation in the fourth quarter worth $634,000. Finally, Primecap Management Co. CA boosted its holdings in Rex Energy Corporation by 4.6% in the first quarter. Primecap Management Co. CA now owns 3,425,000 shares of the oil and gas exploration company’s stock worth $1,608,000 after purchasing an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 14.72% of the company’s stock.
About Rex Energy Corporation
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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