Balyasny Asset Management L.P. Makes New $284,000 Investment in REX American Resources Co. (NYSE:REX)

Balyasny Asset Management L.P. bought a new stake in REX American Resources Co. (NYSE:REX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,821 shares of the energy company's stock, valued at approximately $284,000.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC acquired a new position in shares of REX American Resources in the fourth quarter valued at approximately $46,000. Ballentine Partners LLC acquired a new position in shares of REX American Resources in the fourth quarter valued at approximately $232,000. SG Americas Securities LLC increased its holdings in shares of REX American Resources by 36.1% in the fourth quarter. SG Americas Securities LLC now owns 5,682 shares of the energy company's stock valued at $237,000 after purchasing an additional 1,506 shares during the period. First Trust Advisors LP acquired a new position in shares of REX American Resources in the fourth quarter valued at approximately $244,000. Finally, Ieq Capital LLC purchased a new stake in shares of REX American Resources in the fourth quarter valued at approximately $257,000. Institutional investors and hedge funds own 88.12% of the company's stock.

REX American Resources Stock Down 0.3%

Shares of REX American Resources stock traded down $0.13 during trading on Friday, reaching $41.63. The company's stock had a trading volume of 60,024 shares, compared to its average volume of 144,352. REX American Resources Co. has a 12-month low of $33.45 and a 12-month high of $57.06. The company has a market capitalization of $691.72 million, a P/E ratio of 10.90 and a beta of 0.51. The business has a 50 day moving average price of $39.42 and a 200-day moving average price of $41.00.

REX American Resources (NYSE:REX - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The energy company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.36. REX American Resources had a return on equity of 11.05% and a net margin of 10.07%. The firm had revenue of $158.23 million for the quarter, compared to the consensus estimate of $163.00 million. During the same period in the previous year, the business earned $1.16 earnings per share. Research analysts predict that REX American Resources Co. will post 2.93 EPS for the current fiscal year.

REX American Resources announced that its board has approved a share buyback program on Wednesday, March 26th that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the energy company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Truist Financial restated a "buy" rating and issued a $50.00 price target (down from $55.00) on shares of REX American Resources in a research note 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.