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 research analysts also recently commented on REXX. Stifel Nicolaus upgraded shares of Rex Energy Corp. from a sell rating to a hold rating and increased their price objective for the company from $0.50 to $0.52 in a research note on Thursday, September 29th. Wells Fargo & Co. reissued a hold rating on shares of Rex Energy Corp. in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $1.90.
Shares of Rex Energy Corp. (NASDAQ:REXX) opened at 0.5667 on Tuesday. The stock has a 50 day moving average of $0.54 and a 200 day moving average of $0.71. The stock’s market cap is $43.16 million. 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 posted its quarterly earnings data on Tuesday, August 2nd. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ 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 had revenue of $31.30 million for the quarter, compared to the consensus estimate of $43.71 million. During the same period in the prior year, the firm posted ($0.22) EPS. The firm’s revenue was down 12.6% compared to the same quarter last year. Equities analysts expect that Rex Energy Corp. will post ($0.52) EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in REXX. Mackay Shields LLC purchased a new stake in Rex Energy Corp. during the second quarter worth $2,159,000. Franklin Resources Inc. purchased a new stake in Rex Energy Corp. during the second quarter worth $1,658,000. Loomis Sayles & Co. L P purchased a new stake in Rex Energy Corp. during the first quarter worth $1,101,000. Goldman Sachs Group Inc. boosted its stake in Rex Energy Corp. by 59.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,318,698 shares of the oil and gas exploration company’s stock worth $1,013,000 after buying an additional 491,056 shares during the period. Finally, California Public Employees Retirement System boosted its stake 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 worth $559,000 after buying an additional 159,000 shares during the period. 22.97% of the stock is currently owned by institutional investors and hedge funds.
About Rex Energy Corp.
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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