Stifel Nicolaus Reaffirms “Hold” Rating for Rice Energy Inc. (RICE)
Rice Energy Inc. (NYSE:RICE)‘s stock had its “hold” rating reiterated by equities researchers at Stifel Nicolaus in a research note issued on Thursday. They currently have a $27.00 price objective on the oil and gas producer’s stock. Stifel Nicolaus’ price target suggests a potential downside of 5.97% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Capital One Financial Corporation cut Rice Energy from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 20th. Seaport Global Securities cut Rice Energy from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 21st. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. William Blair cut 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. Finally, US Capital Advisors cut Rice Energy from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Twenty-two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Rice Energy currently has an average rating of “Hold” and a consensus price target of $28.16.
Rice Energy (NYSE:RICE) traded up 2.99% during mid-day trading on Thursday, reaching $28.72. The company had a trading volume of 9,089,665 shares. Rice Energy has a 12 month low of $18.30 and a 12 month high of $29.55. The company’s market capitalization is $6.14 billion. The firm’s 50 day moving average price is $27.35 and its 200-day moving average price is $23.75.
Rice Energy (NYSE:RICE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 negative net margin of 3.00% and a positive return on equity of 3.27%. The business’s revenue was up 155.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.07) EPS. Equities research analysts anticipate that Rice Energy will post $0.71 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the business. Seven Eight Capital LP purchased a new position in shares of Rice Energy during the 2nd quarter worth $118,000. FNY Partners Fund LP purchased a new position in shares of Rice Energy during the 1st quarter worth $127,000. Exane Asset Management purchased a new position in shares of Rice Energy during the 2nd quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rice Energy by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock worth $149,000 after purchasing an additional 494 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in shares of Rice Energy during the 1st quarter worth $190,000. 96.08% of the stock is currently owned by institutional investors.
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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