Mizuho Reiterates Hold Rating for Rice Energy Inc. (RICE)
Rice Energy Inc. (NYSE:RICE)‘s stock had its “hold” rating reiterated by research analysts at Mizuho in a research report issued on Friday. They currently have a $27.50 target price on the oil and gas producer’s stock. Mizuho’s price target indicates a potential downside of 3.54% from the company’s previous close.
RICE has been the topic of a number of other research reports. BidaskClub raised shares of Rice Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. US Capital Advisors downgraded shares of Rice Energy from a “buy” rating to a “hold” rating in a report on Friday, September 1st. William Blair downgraded shares of 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. Cowen and Company set a $30.00 price target on shares of Rice Energy and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Rice Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $26.00 in a report on Friday, September 8th. Nineteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $27.71.
Rice Energy (NYSE RICE) traded up 8.44% during mid-day trading on Friday, hitting $28.51. The company had a trading volume of 24,378,400 shares. Rice Energy has a 52-week low of $18.30 and a 52-week high of $29.55. The company’s market capitalization is $6.10 billion. The company has a 50-day moving average price of $28.06 and a 200 day moving average price of $25.25.
Rice Energy (NYSE:RICE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $398.30 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.07) EPS. On average, analysts forecast that Rice Energy will post $0.65 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Seven Eight Capital LP bought a new stake in Rice Energy during the 2nd quarter worth approximately $118,000. FNY Partners Fund LP bought a new stake in Rice Energy during the 1st quarter worth approximately $127,000. Exane Asset Management bought a new stake in Rice Energy during the 2nd quarter worth approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 acquiring an additional 494 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Rice Energy by 22.9% during 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 acquiring an additional 1,362 shares during the period. Institutional investors own 87.09% of the company’s stock.
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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