Rice Energy Inc. (RICE) Downgraded by US Capital Advisors
US Capital Advisors cut shares of Rice Energy Inc. (NYSE:RICE) from a buy rating to a hold rating in a research report released on Friday, The Fly reports.
A number of other analysts also recently issued reports on the company. Royal Bank Of Canada set a $27.00 target price on Rice Energy and gave the stock a hold rating in a research note on Thursday, August 24th. BidaskClub cut Rice Energy from a buy rating to a hold rating in a report on Thursday, August 17th. Jefferies Group LLC reiterated a hold rating and set a $26.00 price target on shares of Rice Energy in a report on Wednesday, August 16th. BMO Capital Markets set a $30.00 price target on Rice Energy and gave the stock a buy rating in a report on Tuesday, August 8th. Finally, Scotiabank reiterated a hold rating and set a $27.00 price target on shares of Rice Energy in a report on Thursday, August 3rd. Twenty-one equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $28.20.
Rice Energy (NYSE RICE) opened at 27.41 on Friday. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55. The stock’s market capitalization is $5.86 billion. The firm’s 50-day moving average is $27.20 and its 200 day moving average is $23.32.
Rice Energy (NYSE:RICE) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.01. Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The company had revenue of $398.30 million during the quarter, compared to analyst estimates of $359.27 million. During the same period last year, the business earned ($1.07) earnings per share. The firm’s revenue was up 155.3% compared to the same quarter last year. Equities analysts anticipate that Rice Energy will post $0.66 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in RICE. ProShare Advisors LLC boosted its stake in shares of Rice Energy by 7.8% in the 1st quarter. ProShare Advisors LLC now owns 14,953 shares of the oil and gas producer’s stock valued at $354,000 after buying an additional 1,084 shares during the period. Glen Harbor Capital Management LLC purchased a new position in shares of Rice Energy in the 1st quarter valued at about $212,000. Russell Investments Group Ltd. boosted its stake in shares of Rice Energy by 489.5% in the 1st quarter. Russell Investments Group Ltd. now owns 161,512 shares of the oil and gas producer’s stock valued at $3,828,000 after buying an additional 134,116 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Rice Energy in the 1st quarter valued at about $280,000. Finally, Jennison Associates LLC boosted its stake in shares of Rice Energy by 10.0% in the 1st quarter. Jennison Associates LLC now owns 1,391,064 shares of the oil and gas producer’s stock valued at $32,968,000 after buying an additional 126,526 shares during the period. Institutional investors and hedge funds own 96.08% 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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