Wolfe Research Downgrades Rice Energy Inc. (RICE) to Market Perform
Rice Energy Inc. (NYSE:RICE) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, The Fly reports.
A number of other research firms also recently issued reports on RICE. Scotiabank restated a “buy” rating and set a $30.00 target price on shares of Rice Energy in a research report on Thursday, May 4th. Deutsche Bank AG cut their price target on Rice Energy from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. Citigroup Inc. reaffirmed a “neutral” rating and set a $25.00 price target (up from $23.00) on shares of Rice Energy in a research report on Saturday, April 22nd. TheStreet upgraded Rice Energy from a “d+” rating to a “c-” rating in a research note on Thursday, April 6th. Finally, Stifel Nicolaus lifted their price objective on Rice Energy from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.28.
Rice Energy (NYSE RICE) traded up 1.05% during mid-day trading on Thursday, hitting $26.87. The company’s stock had a trading volume of 881,936 shares. The company’s market cap is $5.51 billion. The firm’s 50-day moving average is $21.03 and its 200-day moving average is $21.35. Rice Energy has a 12-month low of $18.30 and a 12-month high of $29.36.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.10. The business had revenue of $393.81 million during the quarter, compared to analyst estimates of $364.60 million. Rice Energy had a positive return on equity of 2.45% and a negative net margin of 27.73%. Analysts predict that Rice Energy will post $0.53 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in RICE. BlackRock Inc. boosted its stake in Rice Energy by 4,630.0% in the first quarter. BlackRock Inc. now owns 5,078,278 shares of the oil and gas producer’s stock worth $120,357,000 after buying an additional 4,970,915 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Rice Energy by 4,932.1% in the first quarter. Neuberger Berman Group LLC now owns 1,646,395 shares of the oil and gas producer’s stock worth $39,020,000 after buying an additional 1,613,677 shares during the last quarter. FMR LLC boosted its stake in shares of Rice Energy by 17.1% in the fourth quarter. FMR LLC now owns 9,415,480 shares of the oil and gas producer’s stock worth $201,021,000 after buying an additional 1,373,499 shares during the period. AQR Capital Management LLC boosted its stake in shares of Rice Energy by 535.8% in the fourth quarter. AQR Capital Management LLC now owns 1,435,976 shares of the oil and gas producer’s stock worth $30,658,000 after buying an additional 1,210,125 shares during the period. Finally, Highbridge Capital Management LLC boosted its stake in shares of Rice Energy by 880.4% in the fourth quarter. Highbridge Capital Management LLC now owns 1,200,544 shares of the oil and gas producer’s stock worth $25,632,000 after buying an additional 1,078,088 shares during the period.
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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