Rice Energy Inc. (RICE) Stock Rating Lowered by BidaskClub
Rice Energy Inc. (NYSE:RICE) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
A number of other research analysts also recently weighed in on the stock. Scotiabank downgraded shares of Rice Energy from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $25.50 to $27.00 in a research report on Monday, June 26th. Jefferies Group LLC set a $26.00 price objective on shares of Rice Energy and gave the stock a “buy” rating in a research report on Saturday, June 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Thursday, September 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Friday, September 29th. Finally, Mitsubishi UFJ Financial Group downgraded shares of Rice Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $31.00 to $27.00 in a research report on Tuesday, June 20th. Twenty investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.93.
Rice Energy (RICE) opened at 27.74 on Friday. The company’s market capitalization is $5.93 billion. The company has a 50-day moving average price of $27.82 and a 200-day moving average price of $24.71. Rice Energy has a one year low of $18.30 and a one year high of $29.55.
Rice Energy (NYSE:RICE) last posted 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). The business had revenue of $398.30 million for the quarter, compared to analyst estimates of $359.27 million. Rice Energy had a negative net margin of 3.00% and a positive return on equity of 3.27%. The company’s revenue for the quarter was up 155.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.07) earnings per share. Analysts expect that Rice Energy will post $0.71 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in RICE. UBS Asset Management Americas Inc. grew its stake in Rice Energy by 43.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 80,995 shares of the oil and gas producer’s stock valued at $1,920,000 after acquiring an additional 24,710 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Rice Energy during the 1st quarter valued at about $421,000. Stifel Financial Corp grew its stake in Rice Energy by 0.5% during the 1st quarter. Stifel Financial Corp now owns 65,282 shares of the oil and gas producer’s stock valued at $1,541,000 after acquiring an additional 296 shares in the last quarter. AXA purchased a new stake in Rice Energy during the 1st quarter valued at about $313,000. Finally, Rafferty Asset Management LLC purchased a new stake in Rice Energy during the 1st quarter valued at about $571,000. 96.08% of the stock is owned by 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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