Zacks Investment Research downgraded shares of Rex Energy (NASDAQ:REXX) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

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. “

Several other equities research analysts have also issued reports on REXX. Royal Bank of Canada lowered Rex Energy from an outperform rating to a sector perform rating and decreased their target price for the company from $4.00 to $3.00 in a research report on Tuesday, October 3rd. Northland Securities set a $4.00 target price on Rex Energy and gave the company a hold rating in a research report on Monday, August 21st. SunTrust Banks set a $2.00 target price on Rex Energy and gave the company a hold rating in a research report on Thursday, November 16th. Finally, KeyCorp reaffirmed a hold rating on shares of Rex Energy in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $4.79.

Shares of Rex Energy (NASDAQ:REXX) traded up $0.10 during trading on Thursday, hitting $1.38. The stock had a trading volume of 189,734 shares, compared to its average volume of 202,096. Rex Energy has a 1 year low of $1.25 and a 1 year high of $9.80. The company has a quick ratio of 0.33, a current ratio of 0.36 and a debt-to-equity ratio of -18.86.

Rex Energy (NASDAQ:REXX) last announced its earnings results on Tuesday, November 14th. The oil and gas exploration company reported ($1.00) earnings per share (EPS) for the quarter, beating the 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 firm posted ($0.14) EPS. The business’s revenue was up 41.2% compared to the same quarter last year. equities analysts expect that Rex Energy will post -2.96 earnings per share for the current fiscal year.

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

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Rex Energy 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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