Zacks Investment Research cut shares of Rex Energy (NASDAQ:REXX) from a buy rating to a hold rating in a report published on Wednesday 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. “
NASDAQ REXX traded up $0.02 on Wednesday, reaching $0.54. 228,656 shares of the company’s stock traded hands, compared to its average volume of 359,273. Rex Energy has a 12 month low of $0.44 and a 12 month high of $5.50. The company has a debt-to-equity ratio of -18.86, a current ratio of 0.36 and a quick ratio of 0.33. The stock has a market capitalization of $7.15, a P/E ratio of -0.11 and a beta of 1.91.
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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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