The company had a trading volume of 66,810,177 shares. Lone Pine Capital Limited Liability Co reported 0.42% in Rice Energy Inc (NYSE:RICE). Florida-based Raymond James Associate has invested 0% in Rice Energy Inc (NYSE:RICE). Adage Cap Prtnrs Limited Liability Corporation invested 0.08% in Rice Energy Inc (NYSE:RICE). It worsened, as 41 investors sold Rice Energy Inc shares while 60 reduced holdings.
And while this does create what (for now at least) would be the biggest natural gas producer in the US, it's too early to say that it will be the best or most profitable, and commodity prices will still play the biggest role in the company's results. The 12-month average price target assigned to the stock is $34.00, which represents a potential upside of 34% from where the stock is now trading. The 52-week high for Rice Energy is $29.36. That represents a premium of about 37.4% to Rice's Friday closing price of $19.69. They expect $0.17 earnings per share, up 342.86 % or $0.24 from last year's $-0.07 per share. The company had revenue of $393.81 million during the quarter, compared to the consensus estimate of $364.60 million. Equities research analysts forecast that Rice Energy will post $0.55 EPS for the current fiscal year. Deutsche Bank AG decreased their target price on Rice Energy from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, March 7th.
Daniel J. Rice IV, chief executive officer, Rice Energy, stated, "Natural gas is the key to a cleaner energy world; and the combination of Rice and EQT - two of the United States' largest, lowest-cost, and most responsible natural gas producers - creates an unparalleled leader in shale gas development that will benefit the environment and our shareholders for many decades to come". Separately, on June 16, Mizuho's Tim Rezvan maintained a Buy rating on the stock and has a price target of $34. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock.
On November 7, 2016 Goldman Sachs started covering the stock setting a rating of "Neutral" and projecting a price target of $27.00. Scotiabank set a $31.00 price target on Rice Energy and gave the company a "buy" rating in a research report on Monday, March 20th. On August 30 the stock rating was upgraded to "Buy" from "Buy" in a report from Seaport Global.
Goldman Sachs began coverage of RICE with a rating of "Neutral" and establishing a price target of $27.00.
EQT Corp. will become the largest USA natural gas producer after agreeing to buy Rice Energy's holdings in the hydrocarbon-rich Marcellus shale formation for about $6.7 billion in cash and stock. The Company conducts its operations through two segments: Exploration and Production, and Midstream.