Scotiabank Reiterates “Hold” Rating for Rice Energy Inc. (RICE)
Rice Energy Inc. (NYSE:RICE)‘s stock had its “hold” rating restated by stock analysts at Scotiabank in a report issued on Wednesday. They presently have a $27.00 price objective on the oil and gas producer’s stock. Scotiabank’s target price suggests a potential downside of 4.96% from the company’s previous close.
RICE has been the topic of several other reports. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Jefferies Group LLC downgraded Rice Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BMO Capital Markets set a $30.00 target price on Rice Energy and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Stephens downgraded Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 target price for the company. in a research report on Thursday, August 3rd. Finally, Mitsubishi UFJ Financial Group downgraded Rice Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $31.00 to $27.00 in a research report on Tuesday, June 20th. Twenty equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Rice Energy presently has a consensus rating of “Hold” and a consensus target price of $27.88.
Shares of Rice Energy (NYSE RICE) traded down 0.35% during midday trading on Wednesday, hitting $28.41. The stock had a trading volume of 6,601,168 shares. The company’s 50 day moving average is $27.68 and its 200 day moving average is $24.61. Rice Energy has a 52-week low of $18.30 and a 52-week high of $29.55. The company’s market cap is $6.07 billion.
Rice Energy (NYSE:RICE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $398.30 million for the quarter, compared to analysts’ expectations of $359.27 million. Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. Rice Energy’s revenue for the quarter was up 155.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.07) earnings per share. On average, analysts anticipate that Rice Energy will post $0.72 earnings per share for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Seven Eight Capital LP acquired a new stake in Rice Energy during the 2nd quarter valued at approximately $118,000. Exane Asset Management acquired a new stake in shares of Rice Energy in the second quarter worth $132,000. FNY Partners Fund LP acquired a new stake in shares of Rice Energy in the first quarter worth $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rice Energy by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock worth $149,000 after acquiring an additional 494 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Rice Energy by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock worth $195,000 after acquiring an additional 1,362 shares during the period. 96.08% 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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