Scotiabank restated their sector outperform rating on shares of Rice Energy Inc. (NYSE:RICE) in a report published on Wednesday. The firm currently has a $32.00 price target on the stock, up from their previous price target of $30.00.
Several other research firms have also weighed in on RICE. Jefferies Group reiterated a buy rating on shares of Rice Energy in a report on Friday, September 9th. Howard Weil lifted their target price on Rice Energy from $30.00 to $32.00 and gave the stock a sector outperform rating in a report on Tuesday, October 11th. Goldman Sachs Group Inc. lowered Rice Energy from a neutral rating to a not rated rating in a report on Tuesday, September 27th. Williams Capital assumed coverage on Rice Energy in a report on Monday, August 29th. They set a hold rating and a $29.00 target price on the stock. Finally, Mizuho assumed coverage on Rice Energy in a report on Wednesday, October 5th. They set a buy rating and a $43.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $27.17.
Shares of Rice Energy (NYSE:RICE) opened at 25.34 on Wednesday. The company’s market cap is $3.97 billion. The stock’s 50 day moving average price is $26.78 and its 200 day moving average price is $22.16. Rice Energy has a 1-year low of $7.92 and a 1-year high of $29.36.
Rice Energy (NYSE:RICE) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $1.01. The business had revenue of $116 million for the quarter, compared to the consensus estimate of $180.12 million. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities research analysts forecast that Rice Energy will post $0.04 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in RICE. BNP Paribas Arbitrage SA increased its position 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 during the period. Public Employees Retirement System of Ohio boosted 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 purchased a new stake in shares of Rice Energy during the second quarter worth about $117,712,000. Schwab Charles Investment Management Inc. boosted 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 purchased a new stake in shares of Rice Energy during the second quarter worth about $4,476,000. 76.46% of the stock is currently 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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