Rice Energy’s (RICE) Buy Rating Reiterated at Cowen and Company
Rice Energy Inc. (NYSE:RICE)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen and Company in a note issued to investors on Wednesday. They currently have a $30.00 price target on the oil and gas producer’s stock. Cowen and Company’s price objective would indicate a potential upside of 13.90% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. Jefferies Group LLC lowered shares of Rice Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Mizuho lowered shares of Rice Energy from a “buy” rating to a “neutral” rating and set a $27.50 price target on the stock. in a report on Monday, July 10th. William Blair lowered shares of Rice Energy from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Monday, July 3rd. Williams Capital lowered shares of Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Monday, July 3rd. Finally, Wolfe Research lowered shares of Rice Energy from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $24.00 to $27.00 in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.93.
Shares of Rice Energy (RICE) traded up 1.67% during mid-day trading on Wednesday, reaching $26.78. The company’s stock had a trading volume of 7,296,479 shares. The company’s market capitalization is $5.49 billion. The firm’s 50 day moving average price is $23.41 and its 200-day moving average price is $21.84. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.36.
Rice Energy (NYSE:RICE) last announced its quarterly earnings results 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 company had revenue of $393.81 million during the quarter, compared to analyst estimates of $364.60 million. Rice Energy had a negative net margin of 27.73% and a positive return on equity of 2.45%. On average, analysts predict that Rice Energy will post $0.55 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in Rice Energy during the fourth quarter worth about $586,000. Comerica Bank raised its position in Rice Energy by 106.1% in the fourth quarter. Comerica Bank now owns 16,021 shares of the oil and gas producer’s stock worth $330,000 after buying an additional 8,248 shares during the last quarter. New York State Teachers Retirement System raised its position in Rice Energy by 1.0% in the fourth quarter. New York State Teachers Retirement System now owns 10,500 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 100 shares during the last quarter. Guggenheim Capital LLC raised its position in Rice Energy by 108.6% in the fourth quarter. Guggenheim Capital LLC now owns 49,134 shares of the oil and gas producer’s stock worth $1,049,000 after buying an additional 25,585 shares during the last quarter. Finally, Norges Bank purchased a new position in Rice Energy during the fourth quarter worth about $10,166,000.
About Rice Energy
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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