Why Has Deutsche Bank Given Rice Energy (NYSE:RICE) a $11 Price Target
Deutsche Bank analyst have begun coverage on Rice Energy (NYSE:RICE) with a $11 target price per share and “Hold” rating. The target price per share may mean a potential upside of 26.58% from company’s last stock close.
From a total of 22 analysts covering Rice Energy (NYSE:RICE) stock, 16 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 80% 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 $22.59 with a 143.61% above today’s ($8.69) stock price. Rice Energy was the topic of 18 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus initiated shares on December 10 with “Buy” rating. Goldman Sachs downgraded RICE stock in a recent report from November 11 to “Neutral” rating. Finally, Topeka Capital Markets initiated the stock with “Buy” rating in a report issued on an October 12.
Approximately 2.01 million shares of stock traded hands. Rice Energy Inc (NYSE:RICE) has declined 64.47% since May 13, 2015 and is downtrending. It has underperformed by 61.84% 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 turned negative, 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 $1.15 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 10.72 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.”