Rice Energy Inc. (RICE) Given a $30.00 Price Target at BMO Capital Markets
Rice Energy Inc. (NYSE:RICE) has been given a $30.00 price target by equities researchers at BMO Capital Markets in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price points to a potential upside of 9.33% from the company’s current price.
A number of other brokerages also recently weighed in on RICE. BidaskClub upgraded shares of Rice Energy from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Jefferies Group LLC downgraded shares of Rice Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Stephens downgraded shares of Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price target on the stock. in a research report on Thursday, August 3rd. Mitsubishi UFJ Financial Group downgraded shares of Rice Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $31.00 to $27.00 in a research report on Tuesday, June 20th. Finally, Williams Capital downgraded shares of Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Monday, July 3rd. Twenty research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.93.
Shares of Rice Energy (NYSE RICE) opened at 27.44 on Tuesday. Rice Energy has a 52-week low of $18.30 and a 52-week high of $29.55. The company’s market capitalization is $5.87 billion. The firm’s 50 day moving average is $27.88 and its 200-day moving average is $24.86.
Rice Energy (NYSE:RICE) last issued its earnings results 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 business had revenue of $398.30 million during the quarter, compared to the consensus estimate of $359.27 million. Rice Energy had a negative net margin of 3.00% and a positive return on equity of 3.27%. The firm’s revenue for the quarter was up 155.3% compared to the same quarter last year. During the same period last year, the business posted ($1.07) EPS. Equities research analysts anticipate that Rice Energy will post $0.71 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of RICE. CNH Partners LLC bought a new position in shares of Rice Energy during the 2nd quarter worth approximately $140,605,000. BlackRock Inc. grew its stake in shares of Rice Energy by 4,630.0% during the 1st quarter. BlackRock Inc. now owns 5,078,278 shares of the oil and gas producer’s stock worth $120,357,000 after acquiring an additional 4,970,915 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Rice Energy during the 2nd quarter worth approximately $108,512,000. Pentwater Capital Management LP bought a new position in shares of Rice Energy during the 2nd quarter worth approximately $49,798,000. Finally, PointState Capital LP grew its stake in shares of Rice Energy by 16.4% during the 2nd quarter. PointState Capital LP now owns 8,521,214 shares of the oil and gas producer’s stock worth $226,920,000 after acquiring an additional 1,203,454 shares in the last quarter. 96.08% of the stock is 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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