Rex: Why This $11 Energy Concern Is Headed To $15
By Bret Jensen:As regular readers of this column know, I am a big advocate of small energy producers in the shale regions of North America. I believe we are in the first couple of innings of an oil & gas revolution driven by fracking technology. I also believe there will continue to be an increasing amount of M&A activity as the majors find it easier to buy reserves on Wall Street than finding them in the field. I first wrote about Rex Energy (REXX) back in the middle part of March when it was selling around $10 a share. The company just released earnings and gave production and other guidance on Tuesday. Although earnings were a bit disappointing, the production update and guidance should provide numerous positive catalysts for the stock.Catalysts/Positives for REXX:
- It exceeded it high case guidance for the quarter by 1% and now expects 67MMcfe - 72MMcfe/d for
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