Why Has Stifel Given Rice Energy (NYSE:RICE) a $14 Price Target
In an analyst research report revealed to investors today, Stifel analysts launched Rice Energy (NYSE:RICE) coverage with “Buy” rating, and a $14 target price.
From a total of 20 analysts covering Rice Energy (NYSE:RICE) stock, 17 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 81% of the ratings are positive. The highest target price is $32 while the lowest target price is $14. The mean of all analyst targets is $24.4 with a 124.70% above today’s ($9.88) stock price. Rice Energy was the topic of 16 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on December 9 with “Neutral” rating. RBC Capital Markets maintained RICE stock in a recent report from November 6 with “Outperform” rating. Finally, Jefferies initiated the stock with “Buy” rating in a report issued on a September 21.
The stock increased 4.39% or $0.41 during the last trading session, striking $9.88. Approximately shares of stock traded hands. Rice Energy Inc (NYSE:RICE) has declined 59.64% since May 7, 2015 and is downtrending. It has underperformed by 57.71% the S&P500.
The overall sentiment of institutions has decreased to 1.16 in Q2 2015. Its down 0.45, from 1.61 in 2015Q2. The ratio worsened, as 25 institutions have sold all the shares of Rice Energy Inc that they owned while 58 funds have taken shares off the table. 29 funds have purchased shares for the first time while 67 added to their positions. These institutions now hold 120.65 million shares or 5.17% less than the 127.22 million shares they owned in 2015Q2.
The Fund Rosenbaum Jay D. currently is holding shares equating to 91.26% of its total portfolio in Rice Energy Inc representing a total of 19.80 million shares. Another fund,G.F.W. Energy X L.P., is holding a total of 14.34 million shares equating to 58.35% of their holdings. Additionally, Firefly Value Partners Lp has a 3.92 million share stake in Rice Energy Inc which represents 9.69% of their total portfolio. The Fund, Jvl Advisors L.L.C., based out of Texas, has also built up a stake in the stock, which represents a total of 8.72% of their total portfolio. Finally Talara Capital Management Llc, a fund which is based in the state of New York reported a total holdings of 545,036 shares.
Rice Energy Inc. is an independent natural gas and oil company. The company has a market cap of $1.29 billion. The Firm is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. It has 12.18 P/E ratio. The Firm operates in two divisions: Exploration and Production, and Midstream.
According to Zacks Investment Research, “Rice Energy Inc. is involved in the acquisition, exploration and development of natural gas and oil properties primarily in the Appalachian Basin. Rice Energy Inc. is headquartered in Hillpointe Drive, United States.” Get a free copy of the Zacks research report on Rice Energy Inc (RICE).