Balyasny Asset Management L.P. Makes New Investment in REX American Resources Co. (NYSE:REX)

Balyasny Asset Management L.P. bought a new position in REX American Resources Co. (NYSE:REX) in the 4th quarter, HoldingsChannel reports. The fund bought 6,821 shares of the energy company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of REX. American Century Companies Inc. grew its position in REX American Resources by 14.1% in the 4th quarter. American Century Companies Inc. now owns 421,621 shares of the energy company’s stock worth $17,577,000 after purchasing an additional 51,945 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in REX American Resources by 382.0% in the 4th quarter. Brandywine Global Investment Management LLC now owns 59,530 shares of the energy company’s stock worth $2,482,000 after purchasing an additional 47,180 shares during the last quarter. Trexquant Investment LP grew its position in REX American Resources by 177.4% in the 4th quarter. Trexquant Investment LP now owns 71,037 shares of the energy company’s stock worth $2,962,000 after purchasing an additional 45,425 shares during the last quarter. Jane Street Group LLC bought a new position in REX American Resources in the 4th quarter worth about $1,734,000. Finally, Teacher Retirement System of Texas grew its position in REX American Resources by 104.6% in the 4th quarter. Teacher Retirement System of Texas now owns 43,946 shares of the energy company’s stock worth $1,832,000 after purchasing an additional 22,468 shares during the last quarter. Institutional investors own 88.12% of the company’s stock.

REX American Resources Price Performance

REX American Resources stock opened at $42.68 on Friday. The firm has a 50 day simple moving average of $38.85 and a 200-day simple moving average of $41.09. The stock has a market capitalization of $709.24 million, a PE ratio of 11.17 and a beta of 0.51. REX American Resources Co. has a 12-month low of $33.45 and a 12-month high of $59.91.

REX American Resources (NYSE:REX) last posted its quarterly earnings data on Wednesday, March 26th. The energy company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.36. The business had revenue of $158.23 million during the quarter, compared to analysts’ expectations of $163.00 million. REX American Resources had a net margin of 10.07% and a return on equity of 11.05%. During the same period last year, the firm posted $1.16 earnings per share. On average, analysts forecast that REX American Resources Co. will post 2.93 earnings per share for the current fiscal year.

REX American Resources declared that its board has initiated a stock repurchase plan on Wednesday, March 26th that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the energy company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Truist Financial restated a “buy” rating and issued a $50.00 target price (down previously from $55.00) on shares of REX American Resources in a research report on Thursday, March 27th.

REX American Resources Profile

REX American Resources Corporation, together with its subsidiaries, produces and sells ethanol in the United States. The company also offers corn, distillers grains, ethanol, distillers corn oil, gasoline, and natural gas. In addition, it provides dry distillers grains with solubles, which is used as a protein in animal feed.