Rice Energy Inc. (RICE) Rating Reiterated by Johnson Rice
Rice Energy Inc. (NYSE:RICE)‘s stock had its “hold” rating reissued by stock analysts at Johnson Rice in a research report issued on Wednesday.
Other equities analysts also recently issued reports about the company. Deutsche Bank AG raised their price target on Rice Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Tuesday, June 14th. Zacks Investment Research upgraded Rice Energy from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 29th. Barclays PLC raised their price target on Rice Energy from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 14th. Citigroup Inc. raised their target price on Rice Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, July 18th. Finally, Stifel Nicolaus raised their target price on Rice Energy from $24.00 to $30.00 and gave the stock a “buy” rating in a report 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.50.
Rice Energy (NYSE:RICE) opened at 25.13 on Wednesday. The stock’s market capitalization is $3.93 billion. Rice Energy has a 52-week low of $7.92 and a 52-week high of $29.36. The company’s 50-day moving average price is $26.50 and its 200 day moving average price is $20.89.
Rice Energy (NYSE:RICE) last issued 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 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 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Rice Energy will post $0.03 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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 in the last quarter. Harvest Fund Advisors LLC bought a new position in Rice Energy during the second quarter valued at approximately $117,712,000. Boston Partners raised its position in 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 in the last quarter. Dimensional Fund Advisors LP raised its position in 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 in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in 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 in the last quarter. Institutional investors own 95.95% 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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