Zacks Investment Research upgraded shares of Rex Energy (NASDAQ:REXX) from a sell rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $1.00 price objective on the oil and gas exploration company’s stock.
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. “
Separately, Northland Securities set a $2.00 target price on shares of Rex Energy and gave the company a hold rating in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $2.54.
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Rex Energy Company Profile
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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