Rice Energy Inc. (NYSE:RICE)‘s stock had its “sector outperform” rating reaffirmed by stock analysts at Scotiabank in a research report issued to clients and investors on Wednesday. They currently have a $32.00 target price on the stock, up from their previous target price of $30.00. Scotiabank’s price objective points to a potential upside of 17.04% from the stock’s current price.
Several other brokerages have also issued reports on RICE. Deutsche Bank AG lifted their price target on Rice Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. Zacks Investment Research upgraded Rice Energy from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 29th. Barclays PLC lifted their price target on Rice Energy from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, July 14th. Citigroup Inc. lifted their price target on Rice Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, July 18th. Finally, Stifel Nicolaus lifted their price target on Rice Energy from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $27.17.
Rice Energy (NYSE:RICE) traded up 1.32% during midday trading on Wednesday, reaching $27.70. The company had a trading volume of 2,250,337 shares. The company’s 50-day moving average is $26.78 and its 200 day moving average is $21.78. Rice Energy has a 52-week low of $7.92 and a 52-week high of $29.36. The company’s market cap is $4.34 billion.
Rice Energy (NYSE:RICE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $1.01. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The company had revenue of $116 million for the quarter, compared to the consensus estimate of $180.12 million. During the same quarter last year, the business earned $0.03 EPS. Rice Energy’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that Rice Energy will post $0.04 EPS for the current year.
A number of hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake in shares of Rice Energy by 268.2% in the third quarter. BNP Paribas Arbitrage SA now owns 27,030 shares of the company’s stock worth $706,000 after buying an additional 19,688 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Rice Energy by 34.8% in the second quarter. Public Employees Retirement System of Ohio now owns 143,766 shares of the company’s stock worth $3,169,000 after buying an additional 37,137 shares in the last quarter. Harvest Fund Advisors LLC bought a new stake in shares of Rice Energy during the second quarter worth approximately $117,712,000. Schwab Charles Investment Management Inc. raised its stake in shares of Rice Energy by 69.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 238,795 shares of the company’s stock worth $5,264,000 after buying an additional 98,262 shares in the last quarter. Finally, HWG Holdings LP bought a new stake in shares of Rice Energy during the second quarter worth approximately $4,476,000. 76.44% of the stock is owned by hedge funds and other institutional investors.
Rice Energy Company Profile
Rice Energy Inc (Rice Energy) is an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream.
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