Rice Energy Inc. (RICE) Sees Large Increase in Short Interest
Rice Energy Inc. (NYSE:RICE) was the target of a large increase in short interest during the month of September. As of September 29th, there was short interest totalling 10,157,858 shares, an increase of 33.6% from the September 15th total of 7,602,502 shares. Based on an average daily trading volume, of 4,417,637 shares, the days-to-cover ratio is currently 2.3 days. Currently, 5.1% of the company’s stock are sold short.
Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reiterated a “hold” rating and set a $27.00 price target on shares of Rice Energy in a report on Friday, September 29th. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Stifel Nicolaus reiterated a “hold” rating and set a $27.00 price target on shares of Rice Energy in a report on Thursday, September 14th. Jefferies Group LLC set a $26.00 price target on Rice Energy and gave the company a “hold” rating in a report on Thursday, October 5th. Finally, Stephens lowered Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price target for the company. in a report on Thursday, August 3rd. Nineteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.71.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RICE. UBS Asset Management Americas Inc. lifted its position in shares of Rice Energy by 43.9% in the first quarter. UBS Asset Management Americas Inc. now owns 80,995 shares of the oil and gas producer’s stock valued at $1,920,000 after buying an additional 24,710 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Rice Energy in the first quarter valued at approximately $421,000. AXA acquired a new stake in shares of Rice Energy in the first quarter valued at approximately $313,000. Teachers Advisors LLC lifted its position in shares of Rice Energy by 6.9% in the first quarter. Teachers Advisors LLC now owns 223,673 shares of the oil and gas producer’s stock valued at $5,301,000 after buying an additional 14,436 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Rice Energy by 105.9% in the first quarter. California Public Employees Retirement System now owns 365,100 shares of the oil and gas producer’s stock valued at $8,653,000 after buying an additional 187,800 shares during the last quarter. 96.08% of the stock is owned by institutional investors.
Rice Energy (NYSE:RICE) opened at 27.52 on Friday. The company’s market capitalization is $5.88 billion. Rice Energy has a 12 month low of $18.30 and a 12 month high of $29.55. The firm has a 50-day moving average price of $27.98 and a 200 day moving average price of $24.96.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $359.27 million. During the same period in the previous year, the business earned ($1.07) earnings per share. The business’s quarterly revenue was up 155.3% on a year-over-year basis. Analysts expect that Rice Energy will post $0.68 EPS for the current year.
About Rice Energy
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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