Rice Energy Inc. (RICE) Downgraded by Tudor Pickering to Hold
Rice Energy Inc. (NYSE:RICE) was downgraded by analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other equities research analysts also recently issued reports on RICE. Zacks Investment Research downgraded shares of Rice Energy from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. GMP Securities assumed coverage on shares of Rice Energy in a research note on Wednesday, September 28th. They set a “buy” rating and a $34.00 price target on the stock. Scotiabank reaffirmed a “sector outperform” rating and set a $32.00 price target (up previously from $30.00) on shares of Rice Energy in a research note on Wednesday. Citigroup Inc. lifted their price target on shares of Rice Energy from $22.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. Finally, Royal Bank Of Canada lifted their price target on shares of Rice Energy from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 3rd. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $27.17.
Rice Energy (NYSE:RICE) traded down 3.85% on Thursday, reaching $26.75. 349,380 shares of the company traded hands. The company’s market capitalization is $4.19 billion. The company has a 50-day moving average price of $26.82 and a 200-day moving average price of $21.83. Rice Energy has a 12 month low of $7.92 and a 12 month high of $29.36.
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Rice Energy (NYSE:RICE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.07) earnings per share (EPS) 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 analysts’ expectations of $180.12 million. During the same period last year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Rice Energy will post $0.04 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Fund Advisors LLC acquired a new stake in Rice Energy during the second quarter valued at approximately $117,712,000. FMR LLC increased its stake in Rice Energy by 222.7% in the second quarter. FMR LLC now owns 3,444,714 shares of the company’s stock valued at $75,921,000 after buying an additional 2,377,400 shares in the last quarter. Vanguard Group Inc. increased its stake in Rice Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 8,087,836 shares of the company’s stock valued at $178,256,000 after buying an additional 2,195,887 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Rice Energy during the second quarter valued at approximately $39,143,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Rice Energy during the first quarter valued at approximately $24,779,000. 76.44% of the stock is currently 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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