Rice Energy Inc. (RICE) Upgraded to Buy at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Rice Energy Inc. (NYSE:RICE) from a hold rating to a buy rating in a report released on Monday. The firm currently has $33.00 target price on the stock, up from their prior target price of $30.00.
RICE has been the subject of a number of other reports. Mizuho assumed coverage on shares of Rice Energy in a research report on Wednesday, October 5th. They set a buy rating and a $43.00 price target for the company. Zacks Investment Research raised shares of Rice Energy from a hold rating to a buy rating and set a $27.00 price objective for the company in a research note on Saturday, October 22nd. Seaport Global Securities cut shares of Rice Energy from a buy rating to a neutral rating and raised their price objective for the stock from $26.00 to $29.00 in a research note on Tuesday, August 30th. Barclays PLC raised their price objective on shares of Rice Energy from $19.00 to $30.00 and gave the stock an overweight rating in a research note on Monday, August 8th. Finally, Scotiabank reissued a sector outperform rating and set a $32.00 price objective (up from $30.00) on shares of Rice Energy in a research note on Wednesday, October 12th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Rice Energy has an average rating of Buy and a consensus target price of $27.79.
Rice Energy (NYSE:RICE) traded down 1.11% on Monday, reaching $24.96. The company had a trading volume of 490,801 shares. The stock has a 50 day moving average price of $24.32 and a 200 day moving average price of $23.44. The stock’s market capitalization is $5.06 billion. Rice Energy has a 52-week low of $7.92 and a 52-week high of $29.36.
Rice Energy (NYSE:RICE) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.39. Rice Energy had a negative net margin of 61.58% and a positive return on equity of 0.75%. The company earned $198.90 million during the quarter, compared to the consensus estimate of $216.58 million. During the same period last year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. Analysts expect that Rice Energy will post $0.10 EPS for the current year.
Several hedge funds have recently modified their holdings of the company. Harvest Fund Advisors LLC acquired a new stake in Rice Energy during the second quarter valued at approximately $117,712,000. Price T Rowe Associates Inc. MD raised its stake in Rice Energy by 71.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,378,800 shares of the company’s stock valued at $166,550,000 after buying an additional 2,667,168 shares in the last quarter. FMR LLC raised its stake in Rice Energy by 222.7% in the second quarter. FMR LLC now owns 3,444,714 shares of the company’s stock valued at $75,921,000 after buying an additional 2,377,400 shares in the last quarter. Brenham Capital Management L.P. acquired a new stake in Rice Energy during the third quarter valued at approximately $60,053,000. Finally, Vanguard Group Inc. raised its stake 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. 76.62% of the stock is owned by 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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