Rice Energy Inc. (RICE) Receives Average Recommendation of “Hold” from Analysts
Rice Energy Inc. (NYSE:RICE) has been given an average recommendation of “Hold” by the twenty-six analysts that are covering the firm, MarketBeat Ratings reports. Twenty investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.68.
A number of brokerages recently commented on RICE. Jefferies Group LLC set a $26.00 target price on shares of Rice Energy and gave the stock a “hold” rating in a research note on Thursday, October 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $27.00 target price on shares of Rice Energy in a research note on Friday, September 29th. Scotiabank reiterated a “hold” rating and set a $27.00 target price on shares of Rice Energy in a research note on Wednesday, October 4th. BMO Capital Markets set a $30.00 target price on shares of Rice Energy and gave the stock a “buy” rating in a research note on Tuesday. Finally, BidaskClub upgraded shares of Rice Energy from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th.
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Shares of Rice Energy (RICE) opened at 27.45 on Thursday. The stock’s market cap is $5.87 billion. The stock’s 50 day moving average price is $27.89 and its 200 day moving average price is $24.88. Rice Energy has a one year low of $18.30 and a one year high of $29.55.
Rice Energy (NYSE:RICE) last issued its 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 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 business’s revenue for the quarter was up 155.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.07) EPS. Analysts forecast that Rice Energy will post $0.71 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Seven Eight Capital LP purchased a new position in Rice Energy during the second quarter worth about $118,000. Exane Asset Management purchased a new position in Rice Energy during the second quarter worth about $132,000. FNY Partners Fund LP purchased a new position in Rice Energy during the first quarter worth about $127,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rice Energy by 9.7% during the second 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 in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Rice Energy by 22.9% during 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 purchasing an additional 1,362 shares in the last quarter. 96.08% of the stock is owned by hedge funds and other 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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