Zacks Investment Research downgraded Rex Energy Corporation (NASDAQ:REXX) to Sell in a report released today.
- Updated: October 11, 2016
Zacks Investment Research has downgraded Rex Energy Corporation (NASDAQ:REXX) to Sell in a report released on 10/11/2016.
Previously on Thursday September 29, 2016, Stifel Nicolaus released a statement about Rex Energy Corporation (NASDAQ:REXX) increased the target price from $0.50 to $0.52. At the time, this indicated a possible downside of -0.05%.
Just yesterday Rex Energy Corporation (NASDAQ:REXX) traded -0.31% lower at $0.56. Rex Energy Corporation’s 50-day moving average is $0.54 and its 200-day moving average is $0.71. The last stock price is down -21.75% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 162,095 shares of REXX traded hands, down from an average trading volume of 1,273,870
Recent Performance Chart
Rex Energy Corporation has 52 week low of $0.45 and a 52 week high of $2.85 and has a market capitalization of $0.
In addition to Zacks Investment Research reporting its stock price target, a total of 11 brokerages have issued a ratings update on the company. The average stock price target is $1.75 with 0 brokerages rating the stock a strong buy, 2 brokerages rating the stock a buy, 12 brokerages rating the stock a hold, 1 brokerage rating the stock a underperform, and finally 1 brokerage rating the stock a sell.
Brief Synopsis On Rex Energy Corporation (NASDAQ:REXX)
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. In the Illinois Basin, the Company is focused on its developmental oil drilling on its properties. The Company owns an interest in approximately 1,820 oil and natural gas wells. The Company produces an average of over 195.8 net millions of cubic feet equivalent (MMcfe) per day, composed of approximately 62.4% natural gas, over 9.5% oil and approximately 28.1% NGLs. In the Illinois Basin, the Company produces an average of approximately 1,998 barrels of oil per day (bopd). Including both developed and undeveloped acreage, the Company controls approximately 99,200 gross (over 79,700 net) acres in Illinois, Indiana and Kentucky.
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