Rex Energy Stock Hits New Low in 2017 – $1.65 per Share

Yesterday was not a good day for our “little energy company that could,” Rex Energy. Their stock price sunk to a new low for the year–closing at $1.65 per share. Rex, focused mainly on the Marcellus/Utica (headquartered in State College, PA), has had its share of financial challenges. In the past it has swapped out old IOUs for new IOUs, converted debt (IOUs) into equity (shares of stock), sold off assets in other basins–a whole lotta stuff to keep on drilling (see our Rex Energy stories here). The company’s stock has taken a hit over the past five years. Rex’s stock (REXX) is traded on the Nasdaq Stock Exchange and last December Nasdaq threatened Rex with de-listing the stock (see Rex Energy Stock Threatened with De-Listing by Nasdaq). The company would remain listed if they could meet the minimum requirement of a per share price trading for at least $1/share for 10 consecutive trading days. Rex pulled a rabbit out of the hat and avoided de-listing (see Rex Energy’s Stock Out of Woods, NASDAQ Won’t De-List). But in November Rex was back in the doghouse with Nasdaq. This time the problem is not a low stock price, but that stockholder equity in the company is less than $2.5 million (see Rex Energy Once Again Threatened with NASDAQ De-listing). To add insult to injury, the company’s stock continues to trail down again–not a good sign…

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