Rice Energy Inc. (RICE) Rating Reiterated by Cowen and Company
Cowen and Company reiterated their buy rating on shares of Rice Energy Inc. (NYSE:RICE) in a research note published on Tuesday morning. Cowen and Company currently has a $30.00 price objective on the oil and gas producer’s stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Rice Energy from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Royal Bank Of Canada set a $28.00 target price on Rice Energy and gave the stock a buy rating in a research note on Friday, June 2nd. Jefferies Group LLC set a $26.00 target price on Rice Energy and gave the stock a buy rating in a research note on Saturday, June 17th. Scotiabank cut Rice Energy from an outperform rating to a sector perform rating and increased their target price for the stock from $25.50 to $27.00 in a research note on Monday, June 26th. Finally, Stifel Nicolaus cut Rice Energy from a buy rating to a hold rating and cut their target price for the stock from $34.00 to $27.00 in a research note on Tuesday, June 20th. Twenty-two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $28.16.
Rice Energy (NYSE:RICE) opened at 28.67 on Tuesday. Rice Energy has a 52 week low of $18.30 and a 52 week high of $29.55. The company’s market capitalization is $6.13 billion. The firm’s 50-day moving average price is $27.33 and its 200 day moving average price is $23.82.
Rice Energy (NYSE:RICE) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The company had revenue of $398.30 million during the quarter, compared to analysts’ expectations of $359.27 million. During the same period in the prior year, the company posted ($1.07) earnings per share. The company’s revenue was up 155.3% on a year-over-year basis. Equities research analysts expect that Rice Energy will post $0.72 earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of RICE. Seven Eight Capital LP bought a new position in Rice Energy in the second quarter valued at about $118,000. FNY Partners Fund LP bought a new position in shares of Rice Energy in the first quarter worth about $127,000. Exane Asset Management bought a new position in shares of Rice Energy in the second quarter worth about $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Rice Energy by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock worth $149,000 after buying an additional 494 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of Rice Energy in the first quarter worth about $190,000. 96.08% of the stock is currently 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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