Rex Energy Corporation (REXX) Downgraded by Zacks Investment Research

Rex Energy Corporation (NASDAQ:REXX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

REXX has been the topic of a number of other reports. Royal Bank Of Canada set a $4.00 target price on Rex Energy Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Northland Securities set a $4.00 target price on Rex Energy Corporation and gave the stock a “hold” rating in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.84.

Shares of Rex Energy Corporation (NASDAQ:REXX) opened at 2.58 on Wednesday. The firm’s market capitalization is $24.94 million. The stock’s 50 day moving average price is $2.37 and its 200-day moving average price is $2.20. Rex Energy Corporation has a 52 week low of $2.10 and a 52 week high of $9.80.

Rex Energy Corporation (NASDAQ:REXX) last announced its earnings results on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.04. The business had revenue of $47.50 million for the quarter, compared to analyst estimates of $48.49 million. Rex Energy Corporation had a negative return on equity of 140.84% and a negative net margin of 37.94%. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. Equities analysts predict that Rex Energy Corporation will post ($3.69) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/11/rex-energy-corporation-rexx-downgraded-by-zacks-investment-research.html.

Several institutional investors and hedge funds have recently bought and sold shares of REXX. Bank of America Corp DE boosted its holdings in shares of Rex Energy Corporation by 30,715.1% in the 1st 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 purchased a new position in shares of Rex Energy Corporation in the 2nd quarter worth about $194,000. Finally, KBC Group NV boosted its holdings in shares of Rex Energy Corporation by 19.0% in the 1st 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. Hedge funds and other institutional investors own 14.72% of the company’s stock.

Rex Energy Corporation Company Profile

Rex Energy Corporation is an independent oil, natural

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. “

REXX has been the topic of a number of other reports. Royal Bank Of Canada set a $4.00 target price on Rex Energy Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Northland Securities set a $4.00 target price on Rex Energy Corporation and gave the stock a “hold” rating in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.84.

Shares of Rex Energy Corporation (NASDAQ:REXX) opened at 2.58 on Wednesday. The firm’s market capitalization is $24.94 million. The stock’s 50 day moving average price is $2.37 and its 200-day moving average price is $2.20. Rex Energy Corporation has a 52 week low of $2.10 and a 52 week high of $9.80.

Rex Energy Corporation (NASDAQ:REXX) last announced its earnings results on Tuesday, August 8th. The oil and gas exploration company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.04. The business had revenue of $47.50 million for the quarter, compared to analyst estimates of $48.49 million. Rex Energy Corporation had a negative return on equity of 140.84% and a negative net margin of 37.94%. The company’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. Equities analysts predict that Rex Energy Corporation will post ($3.69) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/11/rex-energy-corporation-rexx-downgraded-by-zacks-investment-research.html.

Several institutional investors and hedge funds have recently bought and sold shares of REXX. Bank of America Corp DE boosted its holdings in shares of Rex Energy Corporation by 30,715.1% in the 1st 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 purchased a new position in shares of Rex Energy Corporation in the 2nd quarter worth about $194,000. Finally, KBC Group NV boosted its holdings in shares of Rex Energy Corporation by 19.0% in the 1st 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. Hedge funds and other institutional investors own 14.72% of the company’s stock.

Rex Energy Corporation 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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