Mizuho started coverage on shares of Rice Energy Inc. (NYSE:RICE) in a research report report published on Wednesday morning. The brokerage issued a buy rating and a $43.00 price objective on the stock.
A number of other research firms have also recently issued reports on RICE. Jefferies Group reissued a buy rating on shares of Rice Energy in a research note on Friday, September 9th. Goldman Sachs Group Inc. cut shares of Rice Energy from a neutral rating to a not rated rating in a research note on Tuesday, September 27th. Williams Capital assumed coverage on shares of Rice Energy in a research note on Monday, August 29th. They issued a hold rating and a $29.00 price target on the stock. Seaport Global Securities cut shares of Rice Energy from a buy rating to a neutral rating and lifted their price target for the company from $26.00 to $29.00 in a research note on Tuesday, August 30th. Finally, RBC Capital Markets reissued a buy rating and issued a $30.00 price target (up previously from $29.00) on shares of Rice Energy in a research note on Monday, October 3rd. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $26.73.
Shares of Rice Energy (NYSE:RICE) opened at 27.38 on Wednesday. The stock’s market cap is $4.29 billion. Rice Energy has a 52 week low of $7.92 and a 52 week high of $29.36. The stock has a 50 day moving average of $26.73 and a 200 day moving average of $21.50.
Rice Energy (NYSE:RICE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $1.01. The firm had revenue of $116 million for the quarter, compared to analyst estimates of $180.12 million. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. Rice Energy’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. On average, analysts expect that Rice Energy will post $0.04 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of RICE. Vanguard Group Inc. raised its stake in shares of Rice Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 8,087,836 shares of the company’s stock valued at $178,256,000 after buying an additional 2,195,887 shares during the period. Harvest Fund Advisors LLC bought a new stake in shares of Rice Energy during the second quarter valued at about $117,712,000. Boston Partners raised its stake in shares of Rice Energy by 14.7% in the second quarter. Boston Partners now owns 4,908,066 shares of the company’s stock valued at $108,174,000 after buying an additional 628,782 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Rice Energy by 58.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,592,963 shares of the company’s stock valued at $101,232,000 after buying an additional 1,702,757 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of Rice Energy by 5.8% in the second quarter. Lord Abbett & CO. LLC now owns 3,867,987 shares of the company’s stock valued at $85,250,000 after buying an additional 211,181 shares during the period. Hedge funds and other institutional investors own 76.44% of the company’s stock.
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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