Rice Energy Inc. (RICE) Given “Buy” Rating at RBC Capital Markets
RBC Capital Markets reiterated their buy rating on shares of Rice Energy Inc. (NYSE:RICE) in a research note published on Monday morning. RBC Capital Markets currently has a $30.00 price objective on the stock, up from their prior price objective of $29.00.
Other analysts also recently issued research reports about the company. Johnson Rice reiterated a hold rating on shares of Rice Energy in a research report on Wednesday, September 28th. Jefferies Group reiterated a buy rating and issued a $31.00 price objective on shares of Rice Energy in a research report on Tuesday, September 27th. Zacks Investment Research raised Rice Energy from a hold rating to a buy rating and set a $25.00 target price on the stock in a research note on Wednesday, July 13th. Deutsche Bank AG boosted their target price on Rice Energy from $23.00 to $28.00 and gave the company a hold rating in a research note on Wednesday, August 10th. Finally, Citigroup Inc. boosted their target price on Rice Energy from $22.00 to $28.00 and gave the company a neutral rating in a research note on Thursday, August 11th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $25.95.
Rice Energy (NYSE:RICE) opened at 26.67 on Monday. Rice Energy has a 52 week low of $7.92 and a 52 week high of $29.36. The company’s market capitalization is $4.18 billion. The firm’s 50-day moving average price is $26.63 and its 200 day moving average price is $21.22.
Rice Energy (NYSE:RICE) last announced its quarterly earnings data 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. Rice Energy had a negative net margin of 70.19% and a positive return on equity of 1.01%. The company earned $116 million during the quarter, compared to the consensus estimate of $180.12 million. During the same quarter in the previous year, the firm 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 $0.01 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Fund Advisors LLC acquired a new position in shares of Rice Energy during the second quarter worth about $117,712,000. FMR LLC increased its position in shares of Rice Energy by 222.7% in the second quarter. FMR LLC now owns 3,444,714 shares of the company’s stock worth $75,921,000 after buying an additional 2,377,400 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Rice Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 8,087,836 shares of the company’s stock worth $178,256,000 after buying an additional 2,195,887 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Rice Energy during the second quarter worth about $39,143,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Rice Energy during the first quarter worth about $24,779,000. 95.95% 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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