BidaskClub Lowers Rice Energy Inc. (NYSE:RICE) to Hold

Rice Energy Inc. (NYSE:RICE) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday, October 6th.

RICE has been the subject of a number of other reports. Royal Bank Of Canada set a $27.00 price target on shares of Rice Energy and gave the company a “hold” rating in a research report on Thursday, August 24th. Mizuho downgraded shares of Rice Energy from a “buy” rating to a “neutral” rating and set a $27.50 price objective for the company. in a report on Monday, July 10th. Scotiabank reaffirmed a “hold” rating and set a $27.00 price objective on shares of Rice Energy in a report on Thursday, August 3rd. BMO Capital Markets set a $30.00 price objective on shares of Rice Energy and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Williams Capital reaffirmed a “buy” rating and set a $27.00 price objective on shares of Rice Energy in a report on Monday, June 19th. Nineteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.71.

Rice Energy (NYSE RICE) traded up 1.32% during mid-day trading on Friday, reaching $27.68. The company’s stock had a trading volume of 170,920 shares. The stock’s market cap is $5.92 billion. Rice Energy has a 52-week low of $18.30 and a 52-week high of $29.55. The company has a 50 day moving average of $27.98 and a 200-day moving average of $24.97.

Rice Energy (NYSE:RICE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm 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 firm’s revenue for the quarter was up 155.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.07) earnings per share. Equities analysts forecast that Rice Energy will post $0.68 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the business. Banco BTG Pactual S.A. bought a new stake in Rice Energy in the second quarter worth $7,563,000. GeoSphere Capital Management raised its stake in shares of Rice Energy by 100.0% during the second quarter. GeoSphere Capital Management now owns 90,000 shares of the oil and gas producer’s stock valued at $240,000 after acquiring an additional 45,000 shares during the last quarter. NFC Investments LLC raised its stake in shares of Rice Energy by 1.0% during the second quarter. NFC Investments LLC now owns 335,951 shares of the oil and gas producer’s stock valued at $8,946,000 after acquiring an additional 3,320 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Rice Energy by 22.9% during the second quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock valued at $195,000 after acquiring an additional 1,362 shares during the last quarter. Finally, CNH Partners LLC bought a new position in shares of Rice Energy during the second quarter valued at about $140,605,000. 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.

Analyst Recommendations for Rice Energy (NYSE:RICE)

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