Rice Energy Inc. (RICE) Downgraded to “Hold” at Tudor Pickering
Other equities analysts also recently issued reports about the company. Johnson Rice reiterated a hold rating on shares of Rice Energy in a research report on Wednesday, September 28th. Zacks Investment Research upgraded Rice Energy from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Wednesday, July 13th. Jefferies Group restated a buy rating and issued a $31.00 price objective on shares of Rice Energy in a report on Tuesday, September 27th. Deutsche Bank AG raised their price objective on Rice Energy from $23.00 to $28.00 and gave the stock a hold rating in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada raised their price objective on Rice Energy from $29.00 to $30.00 and gave the stock an outperform rating in a report on Monday, October 3rd. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Rice Energy has an average rating of Buy and an average target price of $27.17.
Rice Energy (NYSE:RICE) opened at 25.50 on Thursday. Rice Energy has a 12 month low of $7.92 and a 12 month high of $29.36. The firm’s market capitalization is $3.99 billion. The stock’s 50 day moving average price is $26.75 and its 200-day moving average price is $22.25.
Rice Energy (NYSE:RICE) last released its earnings results on Wednesday, August 3rd. The company reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $1.01. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The business had revenue of $116 million for the quarter, compared to analysts’ expectations of $180.12 million. During the same quarter last year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts forecast that Rice Energy will post $0.04 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RICE. Acadian Asset Management LLC bought a new position in Rice Energy during the second quarter worth about $118,000. Legal & General Group Plc raised 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 in the last quarter. BNP Paribas Arbitrage SA bought a new position in Rice Energy during the second quarter worth about $162,000. Pacad Investment Ltd. bought a new position in Rice Energy during the second quarter worth about $179,000. Finally, First New York Securities LLC NY bought a new position in Rice Energy during the third quarter worth about $261,000. Institutional investors and hedge funds own 76.46% 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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