BidaskClub downgraded shares of Rice Energy Inc. (NYSE:RICE) from a buy rating to a hold rating in a report released on Thursday.
Several other equities research analysts have also recently weighed in on the company. Jefferies Group LLC reiterated a hold rating and issued a $26.00 price objective on shares of Rice Energy in a report on Wednesday. BMO Capital Markets set a $30.00 price objective on Rice Energy and gave the stock a buy rating in a report on Tuesday, August 8th. Scotiabank reiterated a hold rating and issued a $27.00 price objective on shares of Rice Energy in a report on Thursday, August 3rd. 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 report on Thursday, August 3rd. Finally, Cowen and Company set a $30.00 price objective on Rice Energy and gave the stock a buy rating in a report on Wednesday, July 19th. Twenty equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $28.11.
Rice Energy (NYSE RICE) opened at 26.32 on Thursday. The stock’s 50 day moving average price is $26.95 and its 200-day moving average price is $22.88. The company’s market capitalization is $5.63 billion. Rice Energy has a 12 month low of $18.30 and a 12 month high of $29.55.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $398.30 million during the quarter, compared to analysts’ expectations of $359.27 million. During the same quarter last year, the business posted ($1.07) EPS. The company’s quarterly revenue was up 155.3% compared to the same quarter last year. On average, equities research analysts predict that Rice Energy will post $0.57 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Seven Eight Capital LP acquired a new stake in Rice Energy during the second quarter worth approximately $118,000. FNY Partners Fund LP acquired a new stake in Rice Energy during the first quarter worth approximately $127,000. Exane Asset Management acquired a new stake in Rice Energy during the second quarter worth approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 last quarter. Finally, Advisors Asset Management Inc. acquired a new stake in Rice Energy during the first quarter worth approximately $190,000. 97.27% of the stock is owned by institutional investors.
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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