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Thu, Jan. 21, 6:53 PM
- Rex Energy (NASDAQ:REXX) -13.3% AH after suspending payment of the quarterly dividend on shares of its 6% Series A convertible perpetual preferred stock.
- REXX says the dividend suspension creates an additional $2.4M of liquidity per quarter and does not constitute an event of default.
- REXX shares have shed 28.5% YTD and 72% in the past year.
Dec. 1, 2015, 1:10 PM
Dec. 1, 2015, 10:51 AM
- Rex Energy (REXX -12.4%) is routed after Stifel downgrades shares to Sell from Hold with a $0.75 target price, even though the stock has been decimated over the past 12 months, as the firm says the financial risk does not warrant a Hold rating.
- Although REXX exited the latest quarter with enough liquidity to fund a projected $74M outspend in 2016, Stifel believes the company will have "very little cushion" to cover interest expenses next year; based on updated estimates, the firm currently projects 2016 interest coverage of 1.2x.
Dec. 1, 2015, 9:22 AM
Nov. 23, 2015, 3:34 PM
- Rex Energy (REXX -16%) plunges to lows of the day after Imperial Capital downgrades shares to In-line from Outperform with a $2 price target, cut in half from $4.
- Although Rex maintains a strong hedge book going into 2016, Imperial believes Appalachian producers will be more challenged than some non-Appalachian peers in the core Eagle Ford, Permian, STACK or Haynesville.
- The firm's believes that with a predicted warmer than normal winter, record high storage, and ~1,500 drilled but uncompleted gas wells, it prefers to sit on the sideline until it sees visibility on an improving landscape for gas in Appalachia.
Sep. 16, 2015, 12:45 PM
Sep. 11, 2015, 5:37 PM
Aug. 21, 2015, 5:36 PM
Jul. 22, 2015, 12:45 PM
Jun. 18, 2015, 6:41 PM
- Rex Energy (NASDAQ:REXX) +2.2% AH after it agrees to sell its Keystone Clearwater Solutions water management unit in the Appalachian basin to American Water Works (NYSE:AWK) for $130M in cash and debt.
- REXX says the sale will help provide flexibility for the development of its core assets in the Appalachian Basin; AWK says the acquisition will enhance its ability to provide additional water services solutions to shale development companies.
- REXX expects to clear ~$66M on the deal after taxes and adjustments.
Jun. 18, 2015, 5:36 PM
Jun. 11, 2015, 3:59 PM
- Rex Energy (REXX -6.1%) is sharply lower despite announcing positive initial testing results in the Moraine East area that show its Renick 2H well produced 6.6M cfe of natural gas over a 24-hour period while its Renick 3H well reached 8.8M cf/day.
- Rex says it expects the Renick pad to be placed into sales at the end of 2015 in conjunction with MarkWest Energy Partners.
- In presentation slides yesterday, Rex said it sees Q2 production of 199M-205 Mcfe/day, FY 2015 production of 193M-203M cfe/day, and FY 2015 capex of $135M-$145M.
May 5, 2015, 4:14 PM
- Rex Energy (NASDAQ:REXX): Q1 EPS of -$0.11 beats by $0.12.
- Revenue of $54.1M (-33.5% Y/Y) misses by $4.92M.
- Shares +6.4%.
Mar. 31, 2015, 9:13 AM
Feb. 13, 2015, 9:15 AM| Feb. 13, 2015, 9:15 AM | 3 Comments
Feb. 4, 2015, 9:13 AM
Rex Energy Corp is an independent energy company. The Company is engaged in acquisition, production, exploration and development of oil and gas with properties concentrated in the Appalachian and Illinois regions.
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