Rice Energy Inc. (RICE) Receives Average Rating of “Buy” from Brokerages
Shares of Rice Energy Inc. (NYSE:RICE) have received a consensus rating of “Buy” from the twenty-five ratings firms that are presently covering the firm. Seven analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $28.53.
A number of brokerages recently issued reports on RICE. Howard Weil boosted their price objective on Rice Energy from $30.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Johnson Rice reaffirmed a “hold” rating on shares of Rice Energy in a report on Wednesday, September 28th. Zacks Investment Research raised Rice Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, July 13th. Jefferies Group reaffirmed a “buy” rating and set a $31.00 target price on shares of Rice Energy in a report on Tuesday, September 27th. Finally, Deutsche Bank AG lifted their target price on Rice Energy from $23.00 to $28.00 and gave the company a “hold” rating in a report on Wednesday, August 10th.
A number of hedge funds have recently made changes to their positions in RICE. Legal & General Group Plc increased its stake in shares of Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock valued at $100,000 after buying an additional 2,618 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Rice Energy during the second quarter valued at $118,000. BNP Paribas Arbitrage SA bought a new stake in shares of Rice Energy during the second quarter valued at $162,000. Pacad Investment Ltd. bought a new stake in shares of Rice Energy during the second quarter valued at $179,000. Finally, Menta Capital LLC bought a new stake in shares of Rice Energy during the second quarter valued at $225,000. Hedge funds and other institutional investors own 76.44% of the company’s stock.
Shares of Rice Energy (NYSE:RICE) traded down 1.3107% on Tuesday, reaching $27.0014. 3,626,112 shares of the company were exchanged. Rice Energy has a 12-month low of $7.92 and a 12-month high of $29.36. The firm’s market capitalization is $4.23 billion. The stock’s 50-day moving average is $26.75 and its 200 day moving average is $21.74.
Rice Energy (NYSE:RICE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm earned $116 million during the quarter, compared to the consensus estimate of $180.12 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that Rice Energy will post $0.04 EPS for the current year.
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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