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Rex Energy Corporation (REXX) operates as an independent oil and gas exploration and production company in the Appalachian and Illinois basins in the United States.
The company focuses on the Marcellus Shale, Utica Shale, and Upper Devonian Shale drilling and exploration activities in the Appalachian Basin.
It operates in two segments, Exploration and Production, and Field Services. The Exploration and Production segment is involved in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids. The Field services segment provides oil and gas field services comprising water sourcing, water transfer, and water disposal services, as well as equipment rental primarily in the Appalachian Basin.
As of December 31, 2013, it owned an interest in approximately 1,799 oil and natural gas wells; and had estimated proved reserves of 849.8 billions cubic feet equivalent. Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock.
52-Week Trading Range: $14.41 - $25.17
Entry Point: $20.16
Stop Loss: $19.15
Target Price: $22.18
EXX fell below our stop loss. Closed at $19.08
