Rafferty Asset Management LLC Boosts Stake in Rice Energy Inc. (RICE)
Rafferty Asset Management LLC increased its holdings in Rice Energy Inc. (NYSE:RICE) by 46.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,293 shares of the oil and gas producer’s stock after buying an additional 11,216 shares during the period. Rafferty Asset Management LLC’s holdings in Rice Energy were worth $940,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of RICE. BlackRock Inc. boosted its holdings in shares of Rice Energy by 4,630.0% in the 1st quarter. BlackRock Inc. now owns 5,078,278 shares of the oil and gas producer’s stock valued at $120,357,000 after buying an additional 4,970,915 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Rice Energy in the 2nd quarter valued at about $108,512,000. Neuberger Berman Group LLC boosted its holdings in shares of Rice Energy by 4,932.1% in the 1st quarter. Neuberger Berman Group LLC now owns 1,646,395 shares of the oil and gas producer’s stock valued at $39,020,000 after buying an additional 1,613,677 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Rice Energy by 480.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,300,505 shares of the oil and gas producer’s stock valued at $34,634,000 after buying an additional 1,076,366 shares during the period. Finally, Chicago Capital Management LLC acquired a new position in shares of Rice Energy in the 2nd quarter valued at about $27,767,000. 96.08% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on RICE. Stifel Nicolaus reiterated a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Thursday, September 14th. Stephens downgraded shares of Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price objective on the stock. in a research report on Thursday, August 3rd. Scotiabank reiterated a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Rice Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, BMO Capital Markets set a $30.00 price objective on shares of Rice Energy and gave the company a “buy” rating in a research report on Tuesday, August 8th. Twenty-two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Rice Energy has a consensus rating of “Hold” and a consensus price target of $28.16.
Shares of Rice Energy Inc. (NYSE RICE) opened at 28.63 on Monday. The company’s market capitalization is $6.12 billion. Rice Energy Inc. has a 12-month low of $18.30 and a 12-month high of $29.55. The company has a 50 day moving average of $27.34 and a 200-day moving average of $24.01.
Rice Energy (NYSE:RICE) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Rice Energy had a negative net margin of 3.00% and a positive return on equity of 3.27%. The business had revenue of $398.30 million for the quarter, compared to analyst estimates of $359.27 million. During the same quarter in the previous year, the company posted ($1.07) earnings per share. The business’s revenue for the quarter was up 155.3% on a year-over-year basis. On average, equities analysts anticipate that Rice Energy Inc. will post $0.72 EPS for the current fiscal year.
Rice Energy 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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