Rice Energy Inc. (RICE) Given a $30.00 Price Target by Cowen and Company Analysts

Rice Energy Inc. (NYSE:RICE) has been given a $30.00 price objective by equities researchers at Cowen and Company in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Cowen and Company’s price objective indicates a potential upside of 7.64% from the stock’s previous close.

Other analysts have also issued reports about the company. Scotiabank lowered Rice Energy from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $25.50 to $27.00 in a report on Monday, June 26th. Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price on shares of Rice Energy in a report on Thursday, September 14th. Mitsubishi UFJ Financial Group lowered Rice Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $31.00 to $27.00 in a report on Tuesday, June 20th. Capital One Financial Corporation lowered Rice Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 20th. Finally, Williams Capital lowered Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Monday, July 3rd. Nineteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.71.

Shares of Rice Energy (NYSE:RICE) opened at 27.87 on Wednesday. The firm’s 50-day moving average is $28.04 and its 200-day moving average is $25.07. The firm’s market cap is $5.96 billion. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55.

Rice Energy (NYSE:RICE) last released its 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). The company had revenue of $398.30 million for 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 business’s revenue for the quarter was up 155.3% compared to the same quarter last year. During the same period last year, the company posted ($1.07) earnings per share. On average, analysts anticipate that Rice Energy will post $0.63 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Rice Energy by 2.3% during the second quarter. Vanguard Group Inc. now owns 12,999,586 shares of the oil and gas producer’s stock worth $346,180,000 after purchasing an additional 297,124 shares during the period. PointState Capital LP grew its stake in Rice Energy by 16.4% during the second quarter. PointState Capital LP now owns 8,521,214 shares of the oil and gas producer’s stock worth $226,920,000 after purchasing an additional 1,203,454 shares during the period. BlackRock Inc. grew its stake in Rice Energy by 6.8% during the second quarter. BlackRock Inc. now owns 5,426,111 shares of the oil and gas producer’s stock worth $144,498,000 after purchasing an additional 347,833 shares during the period. CNH Partners LLC acquired a new stake in Rice Energy during the se

Other analysts have also issued reports about the company. Scotiabank lowered Rice Energy from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $25.50 to $27.00 in a report on Monday, June 26th. Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price on shares of Rice Energy in a report on Thursday, September 14th. Mitsubishi UFJ Financial Group lowered Rice Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $31.00 to $27.00 in a report on Tuesday, June 20th. Capital One Financial Corporation lowered Rice Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 20th. Finally, Williams Capital lowered Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Monday, July 3rd. Nineteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.71.

Shares of Rice Energy (NYSE:RICE) opened at 27.87 on Wednesday. The firm’s 50-day moving average is $28.04 and its 200-day moving average is $25.07. The firm’s market cap is $5.96 billion. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.55.

Rice Energy (NYSE:RICE) last released its 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). The company had revenue of $398.30 million for 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 business’s revenue for the quarter was up 155.3% compared to the same quarter last year. During the same period last year, the company posted ($1.07) earnings per share. On average, analysts anticipate that Rice Energy will post $0.63 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/20/rice-energy-inc-rice-given-a-30-00-price-target-by-cowen-and-company-analysts.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Rice Energy by 2.3% during the second quarter. Vanguard Group Inc. now owns 12,999,586 shares of the oil and gas producer’s stock worth $346,180,000 after purchasing an additional 297,124 shares during the period. PointState Capital LP grew its stake in Rice Energy by 16.4% during the second quarter. PointState Capital LP now owns 8,521,214 shares of the oil and gas producer’s stock worth $226,920,000 after purchasing an additional 1,203,454 shares during the period. BlackRock Inc. grew its stake in Rice Energy by 6.8% during the second quarter. BlackRock Inc. now owns 5,426,111 shares of the oil and gas producer’s stock worth $144,498,000 after purchasing an additional 347,833 shares during the period. CNH Partners LLC acquired a new stake in Rice Energy during the second quarter worth approximately $140,605,000. Finally, State Street Corp grew its stake in Rice Energy by 8.7% during the second quarter. State Street Corp now owns 4,377,768 shares of the oil and gas producer’s stock worth $116,583,000 after purchasing an additional 349,798 shares during the period. 96.08% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Rice Energy (NYSE:RICE)

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