Rex Energy (REXX) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Rex Energy (NASDAQ:REXX) from a buy rating to a hold rating in a report released on Wednesday, November 22nd.

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 research analysts have also weighed in on the company. Royal Bank Of Canada reaffirmed a hold rating and set a $3.00 target price on shares of Rex Energy in a research report on Thursday, November 9th. KeyCorp reaffirmed a hold rating on shares of Rex Energy in a research report on Monday, November 13th. SunTrust Banks set a $2.00 price target on Rex Energy and gave the stock a hold rating in a research report on Thursday, November 16th. Finally, Northland Securities set a $4.00 price target on Rex Energy and gave the stock a hold rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $5.12.

Rex Energy (NASDAQ REXX) traded down $0.03 during midday trading on Wednesday, reaching $1.62. The company’s stock had a trading volume of 74,696 shares, compared to its average volume of 190,614. 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 fifty-two week low of $1.60 and a fifty-two week high of $9.80.

Rex Energy (NASDAQ:REXX) last issued its quarterly earnings results on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.18) by $0.18. Rex Energy had a negative return on equity of 140.84% and a negative net margin of 61.80%. The firm had revenue of $48.00 million during the quarter, compared to analyst estimates of $46.64 million. During the same period last year, the company earned ($0.14) EPS. Rex Energy’s quarterly revenue was up 41.2% compared to the same quarter last year. research analysts forecast that Rex Energy will post -2.96 EPS for the current fiscal year.

A hedge fund recently raised its stake in Rex Energy stock. Bank of America Corp DE raised its position in shares of Rex Energy Corporation (NASDAQ:REXX) by 30,715.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 336,193 shares of the oil and gas exploration company’s stock after purchasing an additional 335,102 shares during the quarter. Bank of America Corp DE owned 0.35% of Rex Energy worth $158,000 at the end of the most recent reporting period. 12.82% of the stock is owned by hedge funds and other institutional investors.

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About Rex Energy

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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