Howard Weil Boosts Rice Energy Inc. (RICE) Price Target to $32.00
Rice Energy Inc. (NYSE:RICE) had its price objective lifted by stock analysts at Howard Weil from $30.00 to $32.00 in a research report issued on Tuesday. The brokerage currently has a “sector outperform” rating on the stock. Howard Weil’s target price would indicate a potential upside of 16.96% from the company’s current price.
RICE has been the topic of a number of other research reports. RBC Capital Markets restated a “buy” rating and issued a $30.00 target price (up previously from $29.00) on shares of Rice Energy in a report on Monday, October 3rd. Mizuho began coverage on Rice Energy in a research report on Wednesday, October 5th. They set a “buy” rating and a $43.00 price target for the company. Jefferies Group reaffirmed a “buy” rating on shares of Rice Energy in a research report on Friday, September 9th. National Securities increased their price target on Rice Energy from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, Williams Capital began coverage on Rice Energy in a research report on Monday, August 29th. They set a “hold” rating and a $29.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $26.96.
Rice Energy (NYSE:RICE) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $1.01. Rice Energy had a negative net margin of 70.19% and a positive return on equity of 1.01%. The company earned $116 million during the quarter, compared to the consensus estimate of $180.12 million. During the same quarter in the prior year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year.
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Large investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Rice Energy during the second quarter valued at about $118,000. Legal & General Group Plc raised its stake in shares of Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock valued at $100,000 after buying an additional 2,618 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in shares of Rice Energy during the second quarter valued at about $162,000. Pacad Investment Ltd. purchased a new stake in shares of Rice Energy during the second quarter valued at about $179,000. Finally, Menta Capital LLC purchased a new stake in shares of Rice Energy during the second quarter valued at about $225,000. 76.44% of the stock is owned by hedge funds and other 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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