Jefferies Group LLC Reiterates “Hold” Rating for Rice Energy Inc. (RICE)
Rice Energy Inc. (NYSE:RICE)‘s stock had its “hold” rating reissued by analysts at Jefferies Group LLC in a research note issued on Wednesday. They presently have a $26.00 price target on the oil and gas producer’s stock. Jefferies Group LLC’s price objective would indicate a potential downside of 2.66% from the stock’s previous close.
RICE has been the topic of several other research reports. Mizuho downgraded shares of Rice Energy from a “buy” rating to a “neutral” rating and set a $27.50 price objective on the stock. in a research note on Monday, July 10th. Citigroup Inc. restated a “neutral” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Rice Energy in a research note on Saturday, April 22nd. BMO Capital Markets set a $30.00 price objective on shares of Rice Energy and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Scotiabank restated a “buy” rating and issued a $30.00 price objective on shares of Rice Energy in a research note on Thursday, May 4th. Finally, Royal Bank Of Canada set a $28.00 price objective on shares of Rice Energy and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Nineteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.11.
Rice Energy (NYSE:RICE) opened at 26.71 on Wednesday. The firm’s 50-day moving average is $26.95 and its 200-day moving average is $22.79. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55. The company’s market capitalization is $5.71 billion.
Rice Energy (NYSE:RICE) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.01. The company had revenue of $398.30 million during the quarter, compared to analyst estimates of $359.27 million. Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The company’s revenue was up 155.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.07) EPS. Equities research analysts predict that Rice Energy will post $0.57 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Share Andrew L. bought a new position in shares of Rice Energy during the fourth quarter worth about $636,230,000. Jay D. Rosenbaum boosted its position in Rice Energy by 50.5% in the fourth quarter. Jay D. Rosenbaum now owns 29,800,000 shares of the oil and gas producer’s stock worth $324,820,000 after buying an additional 10,000,000 shares in the last quarter. Harvest Fund Advisors LLC acquired a new position in Rice Energy during the second quarter worth about $117,712,000. CNH Partners LLC acquired a new position in Rice Energy during the second quarter worth about $140,605,000. Finally, BlackRock Inc. boosted its position 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. 97.27% 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.
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