Rice Energy Inc. (RICE) Price Target Increased to $41.00 by Analysts at KLR Group
Several other equities research analysts have also issued reports on the company. Royal Bank Of Canada raised their target price on Rice Energy from $29.00 to $30.00 and gave the company an outperform rating in a research report on Monday. RBC Capital Markets reaffirmed a buy rating and set a $30.00 target price (up from $29.00) on shares of Rice Energy in a research report on Monday. National Securities raised their target price on Rice Energy from $29.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, September 28th. Johnson Rice reaffirmed a hold rating on shares of Rice Energy in a research report on Wednesday, September 28th. Finally, GMP Securities assumed coverage on Rice Energy in a research report on Wednesday, September 28th. They set a buy rating and a $34.00 target price for the company. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $25.95.
Shares of 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 50-day moving average is $26.63 and its 200 day moving average is $21.22. The company’s market cap is $4.18 billion.
Rice Energy (NYSE:RICE) last announced 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 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 period in the prior year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Rice Energy will post $0.01 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. purchased a new position in Rice Energy during the first quarter worth $2,812,000. Teachers Advisors Inc. increased its position in Rice Energy by 32.0% in the first quarter. Teachers Advisors Inc. now owns 97,326 shares of the company’s stock worth $1,359,000 after buying an additional 23,593 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Rice Energy by 146.8% in the first quarter. TIAA CREF Investment Management LLC now owns 385,929 shares of the company’s stock worth $5,388,000 after buying an additional 229,543 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Rice Energy during the first quarter worth $24,779,000. Finally, BlackRock Inc. increased its position in Rice Energy by 3.6% in the first quarter. BlackRock Inc. now owns 57,843 shares of the company’s stock worth $807,000 after buying an additional 2,000 shares in the last quarter. 95.95% of the stock is currently owned by hedge funds and other institutional investors.
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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