Dimensional Fund Advisors LP Raises Stake in Rice Energy Inc. (RICE)
Dimensional Fund Advisors LP boosted its position in Rice Energy Inc. (NYSE:RICE) by 58.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,592,963 shares of the company’s stock after buying an additional 1,702,757 shares during the period. Dimensional Fund Advisors LP owned 2.93% of Rice Energy worth $101,232,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its stake in Rice Energy by 14.7% in the second quarter. Boston Partners now owns 4,908,066 shares of the company’s stock worth $108,174,000 after buying an additional 628,782 shares during the period. JVL Advisors L.L.C. raised its stake in Rice Energy by 9.9% in the first quarter. JVL Advisors L.L.C. now owns 2,301,529 shares of the company’s stock worth $32,129,000 after buying an additional 207,400 shares during the period. Victory Capital Management Inc. raised its stake in Rice Energy by 339.5% in the second quarter. Victory Capital Management Inc. now owns 1,960,192 shares of the company’s stock worth $43,203,000 after buying an additional 1,514,166 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Rice Energy during the first quarter worth about $24,779,000. Finally, Stephens Investment Management Group LLC raised its stake in Rice Energy by 6.7% in the second quarter. Stephens Investment Management Group LLC now owns 1,692,705 shares of the company’s stock worth $37,307,000 after buying an additional 106,660 shares during the period. Institutional investors own 95.95% of the company’s stock.
Shares of Rice Energy Inc. (NYSE:RICE) traded up 2.2961% during mid-day trading on Tuesday, reaching $27.5381. The company’s stock had a trading volume of 843,281 shares. The company has a 50 day moving average of $25.96 and a 200-day moving average of $20.10. Rice Energy Inc. has a 12 month low of $7.92 and a 12 month high of $28.19. The firm’s market capitalization is $4.31 billion.
Rice Energy (NYSE:RICE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $1.01. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The business had revenue of $116 million for the quarter, compared to analyst estimates of $180.12 million. During the same period in the prior year, the firm posted $0.03 EPS. Rice Energy’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Rice Energy Inc. will post $0.02 EPS for the current year.
A number of research firms have recently issued reports on RICE. Jefferies Group reiterated a “buy” rating on shares of Rice Energy in a research note on Friday, September 9th. Williams Capital initiated coverage on Rice Energy in a research note on Monday, August 29th. They set a “hold” rating and a $29.00 price objective for the company. Seaport Global Securities lowered Rice Energy from a “buy” rating to a “neutral” rating and raised their price objective for the company from $26.00 to $29.00 in a research note on Tuesday, August 30th. Barclays PLC raised their price objective on Rice Energy from $19.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Finally, Stifel Nicolaus raised their price objective on Rice Energy from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $22.80.
Rice Energy Company Profile
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 conducts its operations through two segments: Exploration and Production, and Midstream.
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