Brent crude oil for February delivery fell below $56 a barrel early Wednesday, according to Reuters, and was falling 2.3% to $56.56 a barrel later in the morning. WTI crude oil for February delivery was falling 2.1% to $52.99 a barrel Wednesday morning.
Oil prices came under pressure after a survey showed that China's factory sector shrank for the first time in seven months in December, according to Reuters.
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The price of Brent crude was nearly halved in 2014 while demand growth slowed, U.S. shale production increased, and OPEC announced it would not reduce its production targets for 2015.
TheStreet Ratings team rates REX ENERGY CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate REX ENERGY CORP (REXX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and increase in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and generally higher debt management risk."