Rex Energy (REXX) is Downgraded by KeyBanc Capital Mkts to Sector Weight , according to the research report released to the investors. Earlier the firm had a rating of Overweight on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.
Rex Energy Corporation (NASDAQ:REXX) : On Thursday heightened volatility was witnessed in Rex Energy Corporation (NASDAQ:REXX) which led to swings in the share price. The shares opened for trading at $1 and hit $1.18 on the upside , eventually ending the session at $1.06, with a gain of 6% or 0.06 points. The heightened volatility saw the trading volume jump to 3,131,862 shares. The 52-week high of the share price is $6.57 and the company has a market cap of $59 million. The 52-week low of the share price is at $0.89 .
During the last several months other analysts have commented on the company rating. Brokerage firm Stifel Nicolaus downgrades its rating on Rex Energy Corporation (NASDAQ:REXX). The shares have been rated Sell. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on December 1, 2015.
Rex Energy Corporation (NASDAQ:REXX) has received a short term rating of hold from research analysts at Zacks with a rank of 3. The company has been rated an average of 2.83 by 12 Wall Street Analysts. 2 analysts have added the shares in their list of strong buys. 9 broker firms have advised hold. 1 market experts have rated it as strong sell.
Rex Energy Corporation (NASDAQ:REXX) should head towards $3.2 per share according to 10 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $1 per share. The higher price estimate target is at $6 according to the Analysts.
Shares of Rex Energy Corporation appreciated by 0.95% during the last five trading days but lost 49.76% on a 4-week basis. Rex Energy Corporation has dropped 58.1% during the last 3-month period . Year-to-Date the stock performance stands at -79.22%.
Rex Energy Corporation is an independent oil and gas company operating in the Appalachian Basin and Illinois Basin. In the Appalachian Basin, the Company is focused on its Marcellus Shale drilling projects and Utica Shale and Upper Devonian Shale exploration activities. In the Illinois Basin, it is focused on the implementation of enhanced oil recovery on its properties, as well as conventional oil production. As of December 31, 2011, it operated approximately 2,117 wells, which include approximately 517 disposal and injection wells. During the year ended December 31, 2011, it produced an average of 49.2 net million cubic feet equivalent per day, composed of approximately 69.5% natural gas and 30.5% oil and natural gas liquids (NGLs). During 2011, it drilled 64.0 gross (34.2 net) wells, which includes one gross (one net) well drilled in connection with its Lawrence Field ASP Flood Project. In September 2014, Rex Energy Corp completes Butler Operated Area Acquisition.