Rice Energy Inc. (RICE) Receives $28.53 Consensus Price Target from Brokerages
Rice Energy Inc. (NYSE:RICE) has received an average recommendation of “Buy” from the twenty-seven research firms that are currently covering the company. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $28.70.
A number of research analysts have commented on the company. Zacks Investment Research lowered Rice Energy from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. GMP Securities began coverage on Rice Energy in a research report on Wednesday, September 28th. They set a “buy” rating and a $34.00 price target for the company. Citigroup Inc. increased their target price on Rice Energy from $22.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Scotiabank reissued a “sector outperform” rating and issued a $32.00 target price (up previously from $30.00) on shares of Rice Energy in a research report on Wednesday. Finally, Royal Bank Of Canada increased their target price on Rice Energy from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, October 3rd.
Several institutional investors have recently added to or reduced their stakes in RICE. Legal & General Group Plc increased its position 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 during the period. Acadian Asset Management LLC bought a new position in shares of Rice Energy during the second quarter worth approximately $118,000. BNP Paribas Arbitrage SA bought a new position in shares of Rice Energy during the second quarter worth approximately $162,000. Pacad Investment Ltd. bought a new position in shares of Rice Energy during the second quarter worth approximately $179,000. Finally, Menta Capital LLC bought a new position in shares of Rice Energy during the second quarter worth approximately $225,000. Hedge funds and other institutional investors own 76.44% of the company’s stock.
Shares of Rice Energy (NYSE:RICE) opened at 27.29 on Tuesday. The company’s market capitalization is $4.27 billion. The company’s 50-day moving average price is $26.84 and its 200-day moving average price is $21.87. Rice Energy has a one year low of $7.92 and a one year high of $29.36.
Rice Energy (NYSE:RICE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $1.01. The business had revenue of $116 million for the quarter, compared to the consensus estimate of $180.12 million. Rice Energy had a negative net margin of 70.19% and a positive return on equity of 1.01%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, equities research analysts predict that Rice Energy will post $0.04 earnings per share for the current year.
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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