Rex Energy Corporation (REXX) was Upgraded by Stifel to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 0.52 from a previous price target of $0.50 . Earlier the firm had a rating of “Sell ” on the company shares. Stifel advised their investors in a research report released on Sep 29, 2016.
On the company’s financial health, Rex Energy Corporation reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.13. The company had revenue of $31.30 million for the quarter, compared to analysts expectations of $43.70 million. The company’s revenue was down -12.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.22 EPS.
Rex Energy Corporation closed down -0.0273 points or -5.61% at $0.4591 with 12,72,231 shares getting traded on Tuesday. Post opening the session at $0.4811, the shares hit an intraday low of $0.45 and an intraday high of $0.4948 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Aug 31, 2016, Robert W Ovitz (COO) purchased 10,000 shares at $0.58 per share price. According to the SEC, on Aug 26, 2015, Curtis J Walker (Chief Accounting Officer) purchased 1,900 shares at $2.60 per share price. On Aug 11, 2015, Thomas Charles Stabley (CEO) purchased 10,000 shares at $2.50 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.