STATE COLLEGE, Pa. (AP) _ Rex Energy Corp. (REXX) on Tuesday reported a loss of $67.4 million in its fourth quarter.
On a per-share basis, the State College, Pennsylvania-based company said it had a loss of 69 cents. Losses, adjusted for one-time gains and costs, came to 8 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The independent oil and gas company posted revenue of $48 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $46.8 million.
For the year, the company reported that its loss narrowed to $176.7 million, or $1.37 per share. Revenue was reported as $139 million.
In the final minutes of trading on Tuesday, the company's shares hit 64 cents. A year ago, they were trading at $2.17.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on REXX at https://www.zacks.com/ap/REXX
Keywords: Rex Energy, Earnings Report