Zacks Investment Research downgraded shares of Rex Energy Corporation (NASDAQ:REXX) from a buy rating to a hold rating in a research report sent to investors 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. “

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada reissued a hold rating and issued a $3.00 price target on shares of Rex Energy Corporation in a research report on Thursday, November 9th. Northland Securities set a $4.00 price target on shares of Rex Energy Corporation and gave the stock a hold rating in a research report on Monday, August 21st. KeyCorp reissued a hold rating on shares of Rex Energy Corporation in a research report on Monday, November 13th. Finally, SunTrust Banks, Inc. set a $2.00 price target on shares of Rex Energy Corporation and gave the stock a hold rating in a research report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Rex Energy Corporation presently has a consensus rating of Hold and a consensus target price of $5.12.

Rex Energy Corporation (REXX) remained flat at $$1.92 during midday trading on Wednesday. 55,100 shares of the stock traded hands, compared to its average volume of 156,063. 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 Corporation has a one year low of $1.70 and a one year high of $9.80.

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

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An institutional investor recently bought a new position in Rex Energy Corporation stock. Spark Investment Management LLC purchased a new position in Rex Energy Corporation (NASDAQ:REXX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,185 shares of the oil and gas exploration company’s stock, valued at approximately $194,000. Spark Investment Management LLC owned approximately 0.70% of Rex Energy Corporation as of its most recent SEC filing. 14.60% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Rex Energy Corporation (NASDAQ:REXX)

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