NEW YORK (TheStreet) -- Rex Energy Corp. (REXX) stock is retreating by 6.06% to $1.08 on heavy trading volume on Wednesday afternoon, following an increase in U.S. crude stockpiles that pressured oil prices.
WTI crude is falling by 1.33% to $41.61 per barrel on the New York Mercantile Exchange, while Brent crude is declining 1.28% to $44.12 per barrel on the Intercontinental Exchange this afternoon.
U.S. commercial crude oil inventories increased by 6.6 million barrels to 536.5 million barrels last week, according to data from the U.S. Energy Information Administration.
Oil prices are also being pressured by an increase in OPEC production. The group of oil-producing countries increased production by 15,000 barrels per day to 32.25 million barrels per day in March, compared with the previous month, Reuters reports.
So far today, 6.19 million shares of Rex Energy, a State College, PA-based oil and natural gas company operating in the U.S., have been traded, compared with its average daily volume of 3.89 million shares.
Separately, Rex Energy has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing stock performance and feeble earnings per share growth.
You can view the full analysis from the report here: REXX
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.