Rice Energy Inc. (RICE) Downgraded to “Hold” at BidaskClub
BidaskClub lowered shares of Rice Energy Inc. (NYSE:RICE) from a buy rating to a hold rating in a research report report published on Friday morning.
Several other analysts have also recently commented on the company. Cowen and Company set a $30.00 target price on Rice Energy and gave the company a buy rating in a report on Wednesday, July 19th. Scotiabank reiterated a buy rating and issued a $29.00 target price on shares of Rice Energy in a report on Monday, June 19th. Wolfe Research cut Rice Energy from an outperform rating to a market perform rating and upped their target price for the company from $24.00 to $27.00 in a report on Thursday, June 29th. KLR Group cut Rice Energy from a buy rating to a hold rating and reduced their target price for the company from $40.00 to $27.00 in a report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) cut Rice Energy from a buy rating to a neutral rating and reduced their target price for the company from $29.00 to $26.00 in a report on Friday, September 8th. Twenty analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $27.93.
Shares of Rice Energy (RICE) traded down 2.97% on Friday, hitting $27.74. 10,864,324 shares of the stock traded hands. The stock’s market cap is $5.93 billion. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55. The stock has a 50 day moving average of $27.82 and a 200-day moving average of $24.71.
Rice Energy (NYSE:RICE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share 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 for the quarter, compared to the consensus estimate of $359.27 million. During the same quarter last year, the firm posted ($1.07) earnings per share. The business’s revenue for the quarter was up 155.3% on a year-over-year basis. On average, equities research analysts expect that Rice Energy will post $0.71 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC lifted its stake in Rice Energy by 1.5% in the second quarter. ProShare Advisors LLC now owns 15,173 shares of the oil and gas producer’s stock valued at $404,000 after buying an additional 220 shares during the period. Comerica Bank lifted its stake in Rice Energy by 1.8% in the second quarter. Comerica Bank now owns 16,279 shares of the oil and gas producer’s stock valued at $444,000 after buying an additional 288 shares during the period. Stifel Financial Corp lifted its stake in Rice Energy by 0.5% in the first quarter. Stifel Financial Corp now owns 65,282 shares of the oil and gas producer’s stock valued at $1,541,000 after buying an additional 296 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Rice Energy by 1.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 25,669 shares of the oil and gas producer’s stock valued at $684,000 after buying an additional 411 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Rice Energy by 9.7% in 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 buying an additional 494 shares during the period. 96.08% of the stock is currently 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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