Rice Energy Inc. (RICE) Now Covered by GMP Securities
GMP Securities initiated coverage on shares of Rice Energy Inc. (NYSE:RICE) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $34.00 price target on the stock. GMP Securities’ price objective suggests a potential upside of 35.30% from the company’s current price.
A number of other equities research analysts have also recently weighed in on the company. Goldman Sachs Group Inc. cut Rice Energy from a “neutral” rating to a “not rated” rating in a research note on Tuesday. Jefferies Group restated a “buy” rating and issued a $31.00 price target on shares of Rice Energy in a research note on Tuesday. Deutsche Bank AG increased their price target on Rice Energy from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, August 10th. Seaport Global Securities cut 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. Finally, Stifel Nicolaus increased their price target on Rice Energy from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Rice Energy presently has an average rating of “Buy” and a consensus target price of $24.50.
Shares of Rice Energy (NYSE:RICE) opened at 25.13 on Wednesday. The stock has a 50 day moving average of $26.50 and a 200 day moving average of $20.89. The firm’s market cap is $3.93 billion. Rice Energy has a 52 week low of $7.92 and a 52 week 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 for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $180.12 million. During the same quarter last year, the company posted $0.03 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Rice Energy will post $0.03 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new position in shares of Rice Energy during the first quarter worth about $379,000. NFC Investments LLC raised its position in shares of Rice Energy by 15.7% in the first quarter. NFC Investments LLC now owns 339,313 shares of the company’s stock worth $4,737,000 after buying an additional 46,011 shares during the period. Spark Investment Management LLC acquired a new position in shares of Rice Energy during the first quarter worth about $837,000. JVL Advisors L.L.C. raised its position in shares of Rice Energy by 9.9% in the first quarter. JVL Advisors L.L.C. now owns 2,301,529 shares of the company’s stock worth $32,129,000 after buying an additional 207,400 shares during the period. Finally, Brookfield Asset Management Inc. raised its position in shares of Rice Energy by 36.3% in the first quarter. Brookfield Asset Management Inc. now owns 56,370 shares of the company’s stock worth $787,000 after buying an additional 15,010 shares during the period. 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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