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Why Rex Energy's Shares Dropped

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of independent oil and gas company Rex Energy (Nasdaq: REXX  ) fell 10% today, after being downgraded by an analyst.

So what: Yesterday, Rex Energy reported earnings that were slightly better than expected, but it wasn't enough for Global Hunter Securities to keep a buy rating on the stock. It lowered its rating to accumulate, and lowered its price target to $15.

Now what: I'm a little confused about what the difference between "buy" and "accumulate" is in Hunter's rating system, but I assume that it means, don't buy as much. The $15 price target is also nicely above today's price, and is 13% above yesterday's close -- not a bad gain if it reaches that price in a year. I wouldn't change anything about my investment thesis today, and would view this analyst-driven dip as a buying opportunity. After all, even Global Hunter Securities thinks you should buy the stock.

Interested in more info on Rex Energy? Add it to your watchlist by clicking here.


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Related Tickers

10/27/2016 4:00 PM
REXX $0.49 Down -0.01 -1.32%
Rex Energy CAPS Rating: *