Rice Energy Inc. (RICE) Receives New Coverage from Analysts at GMP Securities
GMP Securities began coverage on shares of Rice Energy Inc. (NYSE:RICE) in a research note issued to investors on Wednesday. The brokerage issued a buy rating and a $34.00 price objective on the stock.
A number of other research analysts have also recently issued reports on RICE. Zacks Investment Research cut Rice Energy from a buy rating to a hold rating in a research note on Friday, July 29th. Deutsche Bank AG raised their price objective on Rice Energy from $19.00 to $21.00 and gave the company a hold rating in a research note on Tuesday, June 14th. Citigroup Inc. raised their price objective on Rice Energy from $22.00 to $28.00 and gave the company a neutral rating in a research note on Thursday, August 11th. Barclays PLC increased their target price on shares of Rice Energy from $16.00 to $19.00 and gave the stock an equal weight rating in a report on Thursday, July 14th. Finally, Williams Capital initiated coverage on shares of Rice Energy in a report on Monday, August 29th. They set a hold rating and a $29.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Rice Energy currently has an average rating of Buy and a consensus target price of $25.95.
Shares of Rice Energy (NYSE:RICE) opened at 26.67 on Wednesday. Rice Energy has a 12 month low of $7.92 and a 12 month high of $29.36. The company’s market capitalization is $4.18 billion. The company has a 50-day moving average price of $26.63 and a 200-day moving average price of $21.22.
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 company had revenue of $116 million for the quarter, compared to the consensus estimate of $180.12 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Rice Energy will post $0.01 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Shanda Payment Holdings Ltd. increased its stake in shares of Rice Energy by 643.1% in the first quarter. Shanda Payment Holdings Ltd. now owns 151,501 shares of the company’s stock valued at $2,115,000 after buying an additional 131,114 shares during the period. Kennedy Capital Management Inc. purchased a new stake in shares of Rice Energy during the first quarter valued at $2,812,000. Teachers Advisors Inc. increased its stake in shares of Rice Energy by 32.0% in the first quarter. Teachers Advisors Inc. now owns 97,326 shares of the company’s stock valued at $1,359,000 after buying an additional 23,593 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Rice Energy by 146.8% in the first quarter. TIAA CREF Investment Management LLC now owns 385,929 shares of the company’s stock valued at $5,388,000 after buying an additional 229,543 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Rice Energy during the first quarter valued at $24,779,000. 95.95% 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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