Rice Energy Inc. (RICE) Stock Rating Reaffirmed by Jefferies Group
Rice Energy Inc. (NYSE:RICE)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group in a note issued to investors on Tuesday. They presently have a $31.00 target price on the stock. Jefferies Group’s target price indicates a potential upside of 22.77% from the company’s current price.
Several other analysts have also recently issued reports on the company. Goldman Sachs Group Inc. cut Rice Energy from a “neutral” rating to a “not rated” rating in a research report on Tuesday. Deutsche Bank AG increased their target price on Rice Energy from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Seaport Global Securities cut Rice Energy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $29.00 in a research report on Tuesday, August 30th. Stifel Nicolaus lifted their price target on Rice Energy from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Williams Capital initiated coverage on Rice Energy in a report on Monday, August 29th. They issued a “hold” rating and a $29.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.50.
Shares of Rice Energy (NYSE:RICE) opened at 25.25 on Tuesday. Rice Energy has a 12 month low of $7.92 and a 12 month high of $29.36. The company’s market cap is $3.95 billion. The stock’s 50 day moving average price is $26.47 and its 200-day moving average price is $20.86.
Rice Energy (NYSE:RICE) last released its earnings results on Wednesday, August 3rd. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the 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 had revenue of $116 million for the quarter, compared to analysts’ expectations of $180.12 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts expect that Rice Energy will post $0.03 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the stock. 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 valued at $100,000 after buying an additional 2,618 shares during the period. Acadian Asset Management LLC acquired a new position in Rice Energy during the second quarter worth $118,000. BNP Paribas Arbitrage SA acquired a new position in Rice Energy during the second quarter worth $162,000. Pacad Investment Ltd. acquired a new position in Rice Energy during the second quarter worth $179,000. Finally, Menta Capital LLC acquired a new position in Rice Energy during the second quarter worth $225,000. 95.95% of the stock is owned by institutional investors and hedge funds.
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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