BMO Capital announced it is initiating coverage on GeoResources (Nasdaq:GEOI) and REX Energy (Nasdaq:REXX), starting them both off with a "Market Perform" rating.
Rex Energy operates in the Illinois Basin and the Appalachian Basin as an independent oil and gas company.
GeoResources, Inc. is also an independent oil and gas company, operating primarily in Louisiana, Texas, North Dakota, Colorado, Oklahoma and Montana.
GeoResources closed Friday at $17.09, gaining $0.08, or 0.47 percent. Geo has a market cap of $337.07 million. Rex closed at $12.71, dropping $0.15, losing 1.17 percent. They have a market cap of about $560 million.
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