Mizuho Begins Coverage on Rice Energy Inc. (RICE)
Other equities research analysts have also issued research reports about the stock. Seaport Global Securities lowered shares of Rice Energy from a buy rating to a neutral rating and raised their target price for the stock from $26.00 to $29.00 in a report on Tuesday, August 30th. Barclays PLC raised their target price on shares of Rice Energy from $19.00 to $30.00 and gave the stock an overweight rating in a report on Monday, August 8th. Jefferies Group restated a buy rating and issued a $31.00 target price on shares of Rice Energy in a report on Tuesday, September 27th. Williams Capital began coverage on shares of Rice Energy in a report on Monday, August 29th. They issued a hold rating and a $29.00 target price for the company. Finally, Deutsche Bank AG raised their target price on shares of Rice Energy from $23.00 to $28.00 and gave the stock a hold rating in a report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $26.73.
Shares of Rice Energy (NYSE:RICE) opened at 27.36 on Wednesday. Rice Energy has a 1-year low of $7.92 and a 1-year high of $29.36. The company’s market cap is $4.28 billion. The company’s 50-day moving average is $26.75 and its 200 day moving average is $21.74.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $116 million for the quarter, compared to the consensus estimate of $180.12 million. During the same quarter last year, the business earned $0.03 EPS. Rice Energy’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Rice Energy will post $0.04 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in Rice Energy during the second quarter worth $118,000. Legal & General Group Plc boosted its stake in Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock worth $100,000 after buying an additional 2,618 shares in the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Rice Energy during the second quarter worth $162,000. Pacad Investment Ltd. purchased a new stake in Rice Energy during the second quarter worth $179,000. Finally, Menta Capital LLC purchased a new stake in Rice Energy during the second quarter worth $225,000. Institutional investors and hedge funds own 76.44% of the company’s stock.
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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