Jefferies Group reaffirmed their buy rating on shares of Rice Energy Inc. (NYSE:RICE) in a research report sent to investors on Tuesday morning. Jefferies Group currently has a $31.00 price objective on the stock.
RICE has been the topic of several other reports. Williams Capital started coverage on Rice Energy in a research report on Monday, August 29th. They issued a hold rating and a $29.00 target price on the stock. Zacks Investment Research raised Rice Energy from a hold rating to a buy rating and set a $26.00 price target for the company in a research note on Wednesday, June 29th. Seaport Global Securities lowered Rice Energy from a buy rating to a neutral rating and increased their price target for the company from $26.00 to $29.00 in a research note on Tuesday, August 30th. Barclays PLC increased 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. Finally, Citigroup Inc. increased 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. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Rice Energy presently has an average rating of Buy and a consensus target price of $24.50.
Rice Energy (NYSE:RICE) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.06) by $1.01. Rice Energy had a negative net margin of 70.19% and a positive return on equity of 1.01%. The business earned $116 million during the quarter, compared to analyst estimates of $180.12 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in RICE. Legal & General Group Plc raised its stake 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 valued at $100,000 after buying an additional 2,618 shares in the last quarter. Acadian Asset Management LLC bought a new position in Rice Energy during the second quarter valued at $118,000. BNP Paribas Arbitrage SA bought a new position in Rice Energy during the second quarter valued at $162,000. Pacad Investment Ltd. bought a new position in Rice Energy during the second quarter valued at $179,000. Finally, Menta Capital LLC bought a new position in Rice Energy during the second quarter valued at $225,000. Institutional investors and hedge funds own 95.95% of the company’s stock.
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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