Rice Energy Inc. (RICE) Given New $30.00 Price Target at Royal Bank Of Canada
Rice Energy Inc. (NYSE:RICE) had its price target increased by Royal Bank Of Canada from $29.00 to $30.00 in a research report released on Monday morning. They currently have an outperform rating on the stock.
A number of other analysts have also weighed in on RICE. Zacks Investment Research lowered shares of Rice Energy from a buy rating to a hold rating in a research note on Friday, July 29th. GMP Securities began coverage on shares of Rice Energy in a research note on Wednesday, September 28th. They set a buy rating and a $34.00 target price for the company. Deutsche Bank AG increased their target price on shares of Rice Energy from $19.00 to $21.00 and gave the company a hold rating in a research note on Tuesday, June 14th. Citigroup Inc. increased their target price on shares of Rice Energy from $22.00 to $28.00 and gave the company a neutral rating in a research note on Thursday, August 11th. Finally, RBC Capital Markets reissued a buy rating and set a $30.00 target price (up from $29.00) on shares of Rice Energy in a research note on Monday. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $25.95.
Shares of Rice Energy (NYSE:RICE) opened at 26.67 on Monday. The stock’s market capitalization is $4.18 billion. The stock’s 50 day moving average is $26.63 and its 200 day moving average is $21.22. Rice Energy has a 52 week low of $7.92 and a 52 week high of $29.36.
Rice Energy (NYSE:RICE) last issued 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. The company earned $116 million during the quarter, compared to analyst estimates of $180.12 million. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Analysts anticipate that Rice Energy will post $0.01 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock worth $100,000 after buying an additional 2,618 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Rice Energy during the second quarter worth about $118,000. BNP Paribas Arbitrage SA purchased a new position in Rice Energy during the second quarter worth about $162,000. Pacad Investment Ltd. purchased a new position in Rice Energy during the second quarter worth about $179,000. Finally, Menta Capital LLC purchased a new position in Rice Energy during the second quarter worth about $225,000. Institutional investors and hedge funds 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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