Williams Capital Thinks Rice Energy’s Stock is Going to Recover

By Ryan Adsit

Williams Capital analyst Gabriele Sorbara reiterated a Buy rating on Rice Energy (NYSE: RICE) today and set a price target of $27. The company’s shares closed last Friday at $19.69, close to its 52-week low of $18.30.

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -7.0% and a 38.2% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Oasis Petroleum Inc, and Gastar Exploration.

Currently, the analyst consensus on Rice Energy is Strong Buy and the average price target is $29.13, representing a 47.9% upside.

In a report issued on June 16, Mizuho Securities also maintained a Buy rating on the stock with a $34 price target.

Based on Rice Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $394 million and GAAP net loss of $34.63 million. In comparison, last year the company earned revenue of $140 million and had a GAAP net loss of $21.05 million.

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Rice Energy, Inc. engages in the acquisition, exploration, and development of natural gas and natural gas liquid (NGL) properties in the Appalachian Basin. It operates through the Exploration and Production and Midstream segments. The Exploration and Production segment involves in the acquisition, exploration and development of natural gas, oil and NGLs. The Midstream segment offers gathering and compression of natural gas, oil, and NGL production of, and in the provision of water services. The company was founded on October 1, 2013 and is headquartered in Canonsburg, PA.