Howard Weil Boosts Rice Energy Inc. (RICE) Price Target to $32.00
Rice Energy Inc. (NYSE:RICE) had its target price raised by Howard Weil from $30.00 to $32.00 in a note issued to investors on Tuesday. The brokerage presently has a “sector outperform” rating on the stock. Howard Weil’s price target points to a potential upside of 16.96% from the stock’s previous close.
RICE has been the topic of a number of other research reports. Deutsche Bank AG lifted their target price on shares of Rice Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research note on Tuesday, June 14th. Zacks Investment Research upgraded shares of Rice Energy from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, June 29th. Barclays PLC lifted their target price on shares of Rice Energy from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, July 14th. Citigroup Inc. lifted their target price on shares of Rice Energy from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, July 18th. Finally, Stifel Nicolaus lifted their target price on shares of Rice Energy from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.96.
Shares of Rice Energy (NYSE:RICE) opened at 27.36 on Tuesday. Rice Energy has a 52-week low of $7.92 and a 52-week high of $29.36. The firm’s 50-day moving average is $26.75 and its 200 day moving average is $21.74. The stock’s market capitalization is $4.28 billion.
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Rice Energy (NYSE:RICE) last issued its quarterly 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. The business had revenue of $116 million for the quarter, compared to analysts’ expectations of $180.12 million. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. Equities analysts expect that Rice Energy will post $0.04 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Rice Energy by 268.2% in the third quarter. BNP Paribas Arbitrage SA now owns 27,030 shares of the company’s stock valued at $706,000 after buying an additional 19,688 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Rice Energy by 34.8% in the second quarter. Public Employees Retirement System of Ohio now owns 143,766 shares of the company’s stock valued at $3,169,000 after buying an additional 37,137 shares during the period. Harvest Fund Advisors LLC bought a new stake in Rice Energy during the second quarter valued at about $117,712,000. Schwab Charles Investment Management Inc. boosted its stake in Rice Energy by 69.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 238,795 shares of the company’s stock valued at $5,264,000 after buying an additional 98,262 shares during the period. Finally, HWG Holdings LP bought a new stake in Rice Energy during the second quarter valued at about $4,476,000. 76.44% 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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