Rice Energy’s (RICE) “Hold” Rating Reiterated at Scotiabank
Scotiabank reissued their hold rating on shares of Rice Energy Inc. (NYSE:RICE) in a report released on Wednesday morning. They currently have a $27.00 target price on the oil and gas producer’s stock.
Several other research analysts have also issued reports on RICE. BidaskClub upgraded shares of Rice Energy from a hold rating to a buy rating in a report on Thursday, September 28th. Royal Bank Of Canada restated a hold rating and set a $27.00 price target on shares of Rice Energy in a report on Friday, September 29th. BMO Capital Markets set a $30.00 price target on shares of Rice Energy and gave the stock a buy rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $26.00 price target on shares of Rice Energy and gave the stock a buy rating in a report on Saturday, June 17th. Finally, Williams Capital lowered shares of Rice Energy from a buy rating to a hold rating and set a $27.00 price target for the company. in a report on Monday, July 3rd. Twenty research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $27.93.
Rice Energy (NYSE RICE) opened at 27.74 on Wednesday. The firm’s market cap is $5.93 billion. The company’s 50-day moving average is $27.82 and its 200-day moving average is $24.71. Rice Energy has a one year low of $18.30 and a one year high of $29.55.
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 (EPS) for the quarter, missing the 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 in the previous year, the business posted ($1.07) EPS. The firm’s revenue for the quarter was up 155.3% compared to the same quarter last year. On average, analysts forecast that Rice Energy will post $0.71 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of RICE. Seven Eight Capital LP acquired a new stake in Rice Energy in the 2nd quarter valued at $118,000. FNY Partners Fund LP acquired a new stake in Rice Energy in the 1st quarter valued at $127,000. Exane Asset Management acquired a new stake in Rice Energy in the 2nd quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $149,000 after purchasing an additional 494 shares during the period. Finally, The Manufacturers Life Insurance Company grew 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 valued at $195,000 after purchasing an additional 1,362 shares during the period. 96.08% of the stock is owned by institutional investors and hedge funds.
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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