Rex Energy: Eureka!

Rex Energy Corporation (Nasdaq: REXX) is a small-cap lion on the prowl to find those elusive oil and gas pockets in some of the oldest regions left untouched and abandoned by many of the biggest companies.

Riding a wave of improved drilling techniques, better exploration technologies and soaring demand, Rex Energy is off to a fast and furious start as a public company. With oil and natural gas prices shooting to stratospheric heights, smaller companies with a track record and decent potential have enticed investors to take notice.

Since emerging through an initial public offering last summer from a melange of partnerships and tiny entities, Rex Energy has roared to life with a steady stream of announcements of added drilling acreage and project successes.

Industry analysts have issued favorable reports on Rex Energy, with Thomson Financial finding that the five firms following the company have given the stock either a “buy” or “strong buy” rating.
 
The trading range for Rex Energy shares since the late-July IPO at $11 has been fairly wide, with the low of $7.55 coming last Sept. 14 and the $17.95 high seen on Feb. 26, following the release of impressive fourth-quarter results, discounting one-time charges. Shares have declined since then (closing at $16.25 on Wednesday), mostly on the overall market’s sour mood and a speedup in the announced departure of company president Thomas Shields. The stock offering did allow Rex Energy to pay off three-quarters of its outstanding debt and set up a new credit line.

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