Rice Energy Inc. (RICE) Earns Sector Outperform Rating from Scotiabank
Rice Energy Inc. (NYSE:RICE)‘s stock had its “sector outperform” rating reissued by research analysts at Scotiabank in a report issued on Wednesday. They presently have a $32.00 price target on the stock, up from their previous price target of $30.00. Scotiabank’s price objective indicates a potential upside of 17.04% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. Johnson Rice reissued a “hold” rating on shares of Rice Energy in a report on Wednesday, September 28th. Zacks Investment Research raised shares of Rice Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, July 13th. Jefferies Group reissued a “buy” rating and issued a $31.00 target price on shares of Rice Energy in a report on Tuesday, September 27th. Deutsche Bank AG increased their target price on shares of Rice Energy from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada increased their target price on shares of Rice Energy from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 3rd. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Rice Energy has a consensus rating of “Buy” and a consensus price target of $27.17.
Shares of Rice Energy (NYSE:RICE) traded up 1.32% during midday trading on Wednesday, hitting $27.70. 2,444,633 shares of the stock traded hands. 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 $26.78 and its 200 day moving average is $21.78. The company’s market capitalization is $4.34 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/rice-energy-inc-rice-earns-sector-outperform-rating-from-scotiabank.html
Rice Energy (NYSE:RICE) last posted its quarterly earnings data 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. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The firm had revenue of $116 million for the quarter, compared to the consensus estimate of $180.12 million. During the same period in the prior year, the company earned $0.03 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that Rice Energy will post $0.04 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. HBK Investments L P purchased a new stake in shares of Rice Energy during the first quarter valued at $1,570,000. University of Notre Dame DU Lac raised its stake in shares of Rice Energy by 118.4% in the first quarter. University of Notre Dame DU Lac now owns 145,744 shares of the company’s stock valued at $2,035,000 after buying an additional 79,014 shares during the period. Loomis Sayles & Co. L P purchased a new stake in shares of Rice Energy during the first quarter valued at $234,000. Quadrature Capital Ltd purchased a new stake in shares of Rice Energy during the first quarter valued at $379,000. Finally, NFC Investments LLC raised its stake in shares of Rice Energy by 15.7% in the first quarter. NFC Investments LLC now owns 339,313 shares of the company’s stock valued at $4,737,000 after buying an additional 46,011 shares during the period. 76.44% 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.
Receive News & Ratings for Rice Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rice Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.