Alpine Associates Management Inc. Purchases New Position in Rice Energy Inc. (RICE)
Alpine Associates Management Inc. purchased a new position in Rice Energy Inc. (NYSE:RICE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,074,900 shares of the oil and gas producer’s stock, valued at approximately $108,512,000. Rice Energy accounts for about 2.2% of Alpine Associates Management Inc.’s holdings, making the stock its 16th largest holding. Alpine Associates Management Inc. owned 1.91% of Rice Energy as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of RICE. ProShare Advisors LLC increased its stake in Rice Energy by 7.8% in the 1st quarter. ProShare Advisors LLC now owns 14,953 shares of the oil and gas producer’s stock worth $354,000 after buying an additional 1,084 shares during the period. Glen Harbor Capital Management LLC purchased a new position in Rice Energy in the 1st quarter worth about $212,000. Russell Investments Group Ltd. increased its stake in Rice Energy by 489.5% in the 1st quarter. Russell Investments Group Ltd. now owns 161,512 shares of the oil and gas producer’s stock worth $3,828,000 after buying an additional 134,116 shares during the period. Canada Pension Plan Investment Board purchased a new position in Rice Energy in the 1st quarter worth about $280,000. Finally, First Trust Advisors LP increased its stake in Rice Energy by 28.9% in the 1st quarter. First Trust Advisors LP now owns 402,138 shares of the oil and gas producer’s stock worth $9,531,000 after buying an additional 90,270 shares during the period. 96.08% of the stock is currently owned by institutional investors.
Rice Energy Inc. (NYSE RICE) traded up 0.80% during mid-day trading on Wednesday, reaching $27.74. 1,356,738 shares of the company were exchanged. The stock has a 50-day moving average of $27.31 and a 200 day moving average of $23.62. The firm’s market capitalization is $5.93 billion. Rice Energy Inc. has a 1-year low of $18.30 and a 1-year high of $29.55.
Rice Energy (NYSE:RICE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The company had revenue of $398.30 million for the quarter, compared to analyst estimates of $359.27 million. During the same period in the prior year, the business earned ($1.07) earnings per share. Rice Energy’s revenue for the quarter was up 155.3% compared to the same quarter last year. Equities research analysts forecast that Rice Energy Inc. will post $0.71 earnings per share for the current year.
Several research analysts recently commented on the stock. Stephens downgraded shares of Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price target on the stock. in a research note on Thursday, August 3rd. Scotiabank reaffirmed a “hold” rating and issued a $27.00 price target on shares of Rice Energy in a research note on Thursday, August 3rd. BidaskClub raised shares of Rice Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BMO Capital Markets set a $30.00 price target on shares of Rice Energy and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, US Capital Advisors downgraded shares of Rice Energy from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Twenty-two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.16.
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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