Rice Energy Inc. (RICE) Lowered to Neutral at Goldman Sachs Group, Inc. (The)
Rice Energy Inc. (NYSE:RICE) was downgraded by Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.
Other equities analysts have also issued research reports about the company. BidaskClub upgraded Rice Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada set a $28.00 target price on Rice Energy and gave the company a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC set a $26.00 target price on Rice Energy and gave the company a “buy” rating in a report on Saturday, June 17th. Scotiabank downgraded Rice Energy from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $25.50 to $27.00 in a report on Monday, June 26th. Finally, Stifel Nicolaus downgraded Rice Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $34.00 to $27.00 in a report on Tuesday, June 20th. Twenty-two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.20.
Shares of Rice Energy (RICE) opened at 27.34 on Friday. Rice Energy has a 52 week low of $18.30 and a 52 week high of $29.55. The firm’s market cap is $5.85 billion. The company has a 50-day moving average price of $27.31 and a 200 day moving average price of $23.49.
Rice Energy (NYSE:RICE) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The company had revenue of $398.30 million for the quarter, compared to the consensus estimate of $359.27 million. During the same quarter last year, the business earned ($1.07) EPS. Rice Energy’s revenue was up 155.3% on a year-over-year basis. Analysts expect that Rice Energy will post $0.65 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System lifted its holdings in Rice Energy by 1.0% during the 4th 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 period. ProShare Advisors LLC lifted its holdings in Rice Energy by 1.5% during the 2nd quarter. ProShare Advisors LLC now owns 15,173 shares of the oil and gas producer’s stock worth $404,000 after buying an additional 220 shares during the period. Comerica Bank raised its position in shares of Rice Energy by 1.8% in the 2nd quarter. Comerica Bank now owns 16,279 shares of the oil and gas producer’s stock worth $444,000 after acquiring an additional 288 shares in the last quarter. Stifel Financial Corp raised its position in shares of Rice Energy by 0.5% in the 1st quarter. Stifel Financial Corp now owns 65,282 shares of the oil and gas producer’s stock worth $1,541,000 after acquiring an additional 296 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Rice Energy by 0.5% in the 1st quarter. Royal Bank of Canada now owns 67,527 shares of the oil and gas producer’s stock worth $943,000 after acquiring an additional 332 shares in the last quarter. 96.08% 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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