Rex Energy Corporation (REXX) Releases Earnings Results, Beats Expectations By $0.09 EPS

Rex Energy Corporation (REXX) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $-0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.36. The company posted revenue of $30.50 million in the period, compared to analysts expectations of $41.51 million. The company’s revenue was down -43.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 EPS.

Many Wall Street Analysts have commented on Rex Energy Corporation. Company shares were Reiterated by KLR Group on Mar 17, 2016 to “Hold”, Firm has raised the Price Target to $ 1.75 from a previous price target of $1.50 .

Rex Energy Corporation opened for trading at $0.83 and hit $0.91 on the upside on Friday, eventually ending the session at $0.8913, with a gain of 6.11% or 0.0513 points. The heightened volatility saw the trading volume jump to 22,21,130 shares. Company has a market cap of $51 M.

In a different news, on Aug 26, 2015, Curtis J Walker (Chief Accounting Officer) purchased 1,900 shares at $2.60 per share price. According to the SEC, on Aug 11, 2015, Thomas Charles Stabley (CEO) purchased 10,000 shares at $2.50 per share price. On Aug 11, 2015, Robert W Ovitz (COO) purchased 10,000 shares at $2.45 per share price, according to the Form-4 filing with the securities and exchange commission.

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 and the implementation of enhanced oil recovery (EOR) on its properties. In addition to its drilling and exploration activities the Company is also engaged in oil and gas field services where the Company provides water sourcing water disposal and water transfer solutions for completion operations. The Company operates in two business segments: exploration and production and field services. Its core leasehold consists of interests in developed and undeveloped crude oil NGL and natural gas resources located in the Appalachian and Illinois basins.

Rex Energy Corporation

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