Allen Investment Management LLC Takes $292,000 Position in Rice Energy Inc. (RICE)
Allen Investment Management LLC purchased a new stake in shares of Rice Energy Inc. (NYSE:RICE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,081 shares of the oil and gas producer’s stock, valued at approximately $292,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RICE. CNH Partners LLC bought a new stake in shares of Rice Energy during the second quarter valued at approximately $140,605,000. BlackRock Inc. grew its stake in shares of Rice Energy by 4,630.0% during the first quarter. BlackRock Inc. now owns 5,078,278 shares of the oil and gas producer’s stock valued at $120,357,000 after purchasing an additional 4,970,915 shares during the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Rice Energy during the second quarter valued at approximately $108,512,000. Pentwater Capital Management LP bought a new stake in shares of Rice Energy during the second quarter valued at approximately $49,798,000. Finally, PointState Capital LP grew its stake in shares of Rice Energy by 16.4% during the second quarter. PointState Capital LP now owns 8,521,214 shares of the oil and gas producer’s stock valued at $226,920,000 after purchasing an additional 1,203,454 shares during the last quarter. 87.22% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on RICE shares. BidaskClub raised shares of Rice Energy from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. BMO Capital Markets set a $30.00 price target on shares of Rice Energy and gave the company a “buy” rating in a research note on Tuesday, August 8th. Stephens cut 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 note on Thursday, August 3rd. Mizuho reaffirmed a “hold” rating and issued a $27.50 price objective on shares of Rice Energy in a research note on Friday, October 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Rice Energy in a research note on Friday, September 29th. Nineteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.71.
Shares of Rice Energy Inc. (NYSE RICE) traded down $0.34 during trading hours on Thursday, hitting $29.32. 26,809,102 shares of the company were exchanged, compared to its average volume of 5,313,636. Rice Energy Inc. has a fifty-two week low of $18.30 and a fifty-two week high of $29.72. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $6,685.94, a price-to-earnings ratio of 45.81 and a beta of 1.57.
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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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