Rice Energy Inc (RICE) was Downgraded by Seaport Global Securities to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Seaport Global Securities advised their investors in a research report released on Aug 30, 2016.
Many Wall Street Analysts have commented on Rice Energy Inc. Williams Capital Group Initiated Rice Energy Inc on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $29.Company shares were Reiterated by Barclays on Aug 8, 2016 to “Overweight”, Firm has raised the Price Target to $ 30 from a previous price target of $19 .Company shares were Reiterated by Stifel on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $24 .
On the company’s financial health, Rice Energy Inc reported $-1.07 EPS for the quarter, missing the analyst consensus estimate by $ -1.01 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.06. The company had revenue of $116.00 million for the quarter, compared to analysts expectations of $180.12 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Rice Energy Inc closed down -0.26 points or -0.97% at $26.64 with 19,00,153 shares getting traded on Monday. Post opening the session at $26.75, the shares hit an intraday low of $26.555 and an intraday high of $27.09 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Nov 30, 2015, Toby Z. Rice (COO) purchased 7,500 shares at $13.30 per share price. According to the SEC, on Mar 19, 2015, John Mccartney (director) purchased 2,000 shares at $19.28 per share price. On Mar 17, 2015, Steven C Dixon (director) purchased 10,000 shares at $17.92 per share price, according to the Form-4 filing with the securities and exchange commission.
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 operates in two segments: Exploration and Production and Midstream. Exploration and Production segment is engaged in the acquisition exploration and development of natural gas oil and NGLs. Midstream segment is engaged in the gathering and compression of natural gas oil and NGL production of and in the provision of water services to support the well completion activities of Rice Energy and third-parties. The Company’s Exploration and Production segment operates in the core of the Marcellus Utica Shales and Upper Devonian Shale. The Company’s midstream assets consist of gathering systems and associated compression infrastructure at Washington County System Greene County System and Belmont County System.