Rice Energy Inc. (RICE) Stock Rating Lowered by Tudor Pickering
Rice Energy Inc. (NYSE:RICE) was downgraded by stock analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities analysts have also weighed in on RICE. Zacks Investment Research upgraded Rice Energy from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, June 29th. Barclays PLC lifted their price objective on Rice Energy from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Citigroup Inc. lifted their price objective on Rice Energy from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, July 18th. Stifel Nicolaus lifted their price objective on Rice Energy from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Deutsche Bank AG lifted their price objective on Rice Energy from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Wednesday, August 10th. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $27.17.
Shares of Rice Energy (NYSE:RICE) traded down 3.88% during midday trading on Thursday, hitting $26.74. The stock had a trading volume of 373,866 shares. The firm’s 50 day moving average price is $26.82 and its 200 day moving average price is $21.83. Rice Energy has a 52-week low of $7.92 and a 52-week high of $29.36. The firm’s market cap is $4.19 billion.
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Rice Energy (NYSE:RICE) last announced 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. Rice Energy had a negative net margin of 70.19% and a positive return on equity of 1.01%. The business earned $116 million during the quarter, compared to analysts’ expectations of $180.12 million. During the same quarter in the prior year, the firm earned $0.03 EPS. Rice Energy’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Rice Energy will post $0.04 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. Southeast Asset Advisors Inc. raised its stake in Rice Energy by 1.4% in the second quarter. Southeast Asset Advisors Inc. now owns 55,870 shares of the company’s stock worth $1,231,000 after buying an additional 780 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Rice Energy by 6.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 24,192 shares of the company’s stock worth $533,000 after buying an additional 1,481 shares in the last quarter. BlackRock Inc. raised its stake in Rice Energy by 3.6% in the first quarter. BlackRock Inc. now owns 57,843 shares of the company’s stock worth $807,000 after buying an additional 2,000 shares in the last quarter. Legal & General Group Plc raised its stake in Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock worth $100,000 after buying an additional 2,618 shares in the last quarter. Finally, Advisory Research Inc. raised its stake in Rice Energy by 17.4% in the second quarter. Advisory Research Inc. now owns 18,080 shares of the company’s stock worth $398,000 after buying an additional 2,680 shares in the last quarter. 76.44% of the stock is currently owned by institutional investors and hedge funds.
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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