Cowen and Company reiterated their buy rating on shares of Rice Energy Inc. (NYSE:RICE) in a report published on Tuesday. The brokerage currently has a $30.00 target price on the oil and gas producer’s stock.
Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Rice Energy from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Royal Bank Of Canada set a $28.00 price objective on shares of Rice Energy and gave the stock a buy rating in a research note on Friday, June 2nd. Jefferies Group LLC set a $26.00 price objective on shares of Rice Energy and gave the stock a buy rating in a research note on Saturday, June 17th. Scotiabank downgraded shares of Rice Energy from an outperform rating to a sector perform rating and raised their price objective for the stock from $25.50 to $27.00 in a research note on Monday, June 26th. Finally, Mitsubishi UFJ Financial Group downgraded shares of Rice Energy from an overweight rating to a neutral rating and lowered their price objective for the stock from $31.00 to $27.00 in a research note on Tuesday, June 20th. Twenty-two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Rice Energy has an average rating of Hold and an average price target of $28.16.
Shares of Rice Energy (NYSE:RICE) opened at 27.52 on Tuesday. The firm’s market capitalization is $5.88 billion. The company has a 50-day moving average of $27.31 and a 200 day moving average of $23.62. Rice Energy has a 12-month low of $18.30 and a 12-month high of $29.55.
Rice Energy (NYSE:RICE) last announced its quarterly earnings data 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 company had revenue of $398.30 million during 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 company’s revenue was up 155.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.07) EPS. On average, analysts predict that Rice Energy will post $0.71 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Seven Eight Capital LP bought a new position in shares of Rice Energy during the second quarter valued at $118,000. FNY Partners Fund LP bought a new position in shares of Rice Energy during the first quarter valued at $127,000. Exane Asset Management bought a new position in shares of Rice Energy during the second quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 valued at $149,000 after acquiring an additional 494 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of Rice Energy during the first quarter valued at $190,000. 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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