Rex Energy Corporation (NASDAQ:REXX) hit a new 52-week low on Tuesday . The company traded as low as $2.09 and last traded at $2.09, with a volume of 105,953 shares traded. The stock had previously closed at $2.16.
REXX has been the topic of a number of research reports. Northland Securities set a $4.00 price objective on Rex Energy Corporation and gave the stock a “hold” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded Rex Energy Corporation from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Thursday, August 31st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $4.00 price objective on shares of Rex Energy Corporation in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.84.
The company’s market cap is $19.62 million. The company’s 50 day moving average price is $2.37 and its 200-day moving average price is $2.24.
Rex Energy Corporation (NASDAQ:REXX) last released its quarterly earnings results on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.02) by $0.04. Rex Energy Corporation had a negative return on equity of 140.84% and a negative net margin of 37.94%. The business had revenue of $47.50 million for the quarter, compared to the consensus estimate of $48.49 million. During the same quarter last year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was up 51.8% on a year-over-year basis. Equities research analysts expect that Rex Energy Corporation will post ($3.69) earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spark Investment Management LLC purchased a new position in shares of Rex Energy Corporation in the second quarter worth about $194,000. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 335,102 shares during the period. Finally, KBC Group NV increased its holdings in shares of 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 buying an additional 66,559 shares during the period. Hedge funds and other institutional investors own 14.72% of the company’s stock.
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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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