Rice Energy Inc. (NYSE:RICE) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “not rated” rating in a research note issued on Tuesday, StockTargetPrices.com reports.
Several other research firms have also issued reports on RICE. Jefferies Group reissued a “buy” rating on shares of Rice Energy in a research report on Friday, September 9th. Williams Capital started coverage on shares of Rice Energy in a report on Monday, August 29th. They set a “hold” rating and a $29.00 price objective for the company. Seaport Global Securities lowered shares of Rice Energy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $26.00 to $29.00 in a report on Tuesday, August 30th. Barclays PLC raised their price objective on shares of Rice Energy from $19.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Finally, Stifel Nicolaus raised their price objective on shares of Rice Energy from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.68.
Shares of Rice Energy (NYSE:RICE) opened at 27.14 on Tuesday. The stock’s 50 day moving average price is $26.46 and its 200-day moving average price is $20.73. The firm’s market cap is $4.25 billion. Rice Energy has a 12 month low of $7.92 and a 12 month high of $29.36.
Rice Energy (NYSE:RICE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business earned $116 million during the quarter, compared to analyst estimates of $180.12 million. During the same period last year, the company earned $0.03 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Rice Energy will post $0.02 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock worth $100,000 after buying an additional 2,618 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Rice Energy during the second quarter worth $118,000. BNP Paribas Arbitrage SA purchased a new position in shares of Rice Energy during the second quarter worth $162,000. Pacad Investment Ltd. purchased a new position in shares of Rice Energy during the second quarter worth $179,000. Finally, Menta Capital LLC purchased a new position in shares of Rice Energy during the second quarter worth $225,000. 95.95% of the stock is currently owned by institutional investors.
About Rice Energy
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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