Rice Energy Inc. (RICE) Earns “Hold” Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their hold rating on shares of Rice Energy Inc. (NYSE:RICE) in a research note released on Thursday. Stifel Nicolaus currently has a $27.00 price objective on the oil and gas producer’s stock.
A number of other brokerages have also recently commented on RICE. Jefferies Group LLC cut Rice Energy from a buy rating to a hold rating in a research note on Wednesday, July 12th. BMO Capital Markets set a $30.00 price objective on Rice Energy and gave the stock a buy rating in a research note on Tuesday, August 8th. Stephens cut Rice Energy from an overweight rating to an equal weight rating and set a $30.00 price objective for the company. in a research note on Thursday, August 3rd. Mitsubishi UFJ Financial Group cut Rice Energy from an overweight rating to a neutral rating and decreased their price objective for the stock from $31.00 to $27.00 in a research note on Tuesday, June 20th. Finally, Williams Capital cut Rice Energy from a buy rating to a hold rating and set a $27.00 price objective for the company. in a research note on Monday, July 3rd. Twenty-two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $28.16.
Rice Energy (NYSE:RICE) opened at 28.67 on Thursday. The company has a 50 day moving average price of $27.33 and a 200-day moving average price of $23.82. Rice Energy has a 52-week low of $18.30 and a 52-week high of $29.55. The firm’s market cap is $6.13 billion.
Rice Energy (NYSE:RICE) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $359.27 million. During the same period last year, the firm earned ($1.07) earnings per share. The firm’s revenue for the quarter was up 155.3% on a year-over-year basis. Equities research analysts anticipate that Rice Energy will post $0.72 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Seven Eight Capital LP acquired a new position in shares of Rice Energy during the second quarter worth about $118,000. Exane Asset Management acquired a new position in shares of Rice Energy during the second quarter worth about $132,000. FNY Partners Fund LP acquired a new position in shares of Rice Energy during the first quarter worth about $127,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rice Energy by 9.7% during 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, The Manufacturers Life Insurance Company boosted its position in shares of Rice Energy by 22.9% during the second quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 1,362 shares during the period. 96.08% 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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