Rice Energy Inc. (RICE) PT Set at $30.00 by Cowen and Company
Rice Energy Inc. (NYSE:RICE) received a $30.00 price target from equities researchers at Cowen and Company in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Cowen and Company’s price objective indicates a potential upside of 7.64% from the company’s current price.
Several other research firms have also recently issued reports on RICE. BidaskClub upgraded shares of Rice Energy from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Jefferies Group LLC cut shares of Rice Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. 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, August 8th. Stephens cut shares of Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 target price on the stock. in a research note on Thursday, August 3rd. Finally, Mitsubishi UFJ Financial Group cut shares of Rice Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $27.00 in a research note on Tuesday, June 20th. Nineteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Rice Energy currently has a consensus rating of “Hold” and a consensus target price of $27.71.
Shares of Rice Energy (NYSE:RICE) traded up 0.65% on Wednesday, reaching $27.87. 8,755,680 shares of the company’s stock traded hands. The company’s 50-day moving average price is $28.02 and its 200 day moving average price is $25.05. Rice Energy has a one year low of $18.30 and a one year high of $29.55. The firm’s market cap is $5.96 billion.
Rice Energy (NYSE:RICE) last posted its 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). Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The firm had revenue of $398.30 million during the quarter, compared to analysts’ expectations of $359.27 million. During the same quarter in the prior year, the company earned ($1.07) earnings per share. The business’s revenue for the quarter was up 155.3% compared to the same quarter last year. On average, equities analysts forecast that Rice Energy will post $0.63 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Seven Eight Capital LP purchased a new position in Rice Energy in the 2nd quarter worth $118,000. FNY Partners Fund LP purchased a new position in Rice Energy in the 1st quarter worth $127,000. Exane Asset Management purchased a new position in Rice Energy in the 2nd quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Rice Energy by 9.7% in 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, The Manufacturers Life Insurance Company raised its position in Rice Energy by 22.9% in the 2nd 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 during the period. Institutional investors own 96.08% of the company’s stock.
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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