Magnetar Financial LLC Grows Stake in Rice Energy Inc (RICE)
Magnetar Financial LLC lifted its holdings in shares of Rice Energy Inc (NYSE:RICE) by 7.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,858,341 shares of the oil and gas producer’s stock after purchasing an additional 410,490 shares during the period. Rice Energy comprises approximately 3.8% of Magnetar Financial LLC’s investment portfolio, making the stock its 3rd largest holding. Magnetar Financial LLC owned 2.57% of Rice Energy worth $169,540,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Rice Energy by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 12,999,586 shares of the oil and gas producer’s stock valued at $346,180,000 after acquiring an additional 297,124 shares during the period. PointState Capital LP raised its stake in Rice Energy by 16.4% in the 2nd quarter. PointState Capital LP now owns 8,521,214 shares of the oil and gas producer’s stock valued at $226,920,000 after acquiring an additional 1,203,454 shares during the period. BlackRock Inc. raised its stake in Rice Energy by 6.8% in the 2nd quarter. BlackRock Inc. now owns 5,426,111 shares of the oil and gas producer’s stock valued at $144,498,000 after acquiring an additional 347,833 shares during the period. CNH Partners LLC bought a new stake in Rice Energy in the 2nd quarter valued at about $140,605,000. Finally, State Street Corp raised its stake in Rice Energy by 8.7% in the 2nd quarter. State Street Corp now owns 4,377,768 shares of the oil and gas producer’s stock valued at $116,583,000 after acquiring an additional 349,798 shares during the period. Institutional investors and hedge funds own 87.22% of the company’s stock.
Shares of Rice Energy Inc (RICE) traded down $0.34 during midday trading on Wednesday, hitting $29.32. The stock had a trading volume of 26,809,102 shares, compared to its average volume of 5,313,636. Rice Energy Inc has a 52 week low of $18.30 and a 52 week high of $29.72. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $6,690.00, a price-to-earnings ratio of 45.81 and a beta of 1.57.
RICE has been the subject of a number of recent analyst reports. Mizuho reaffirmed a “hold” rating and set a $27.50 target price on shares of Rice Energy in a report on Friday, October 27th. Cowen reaffirmed a “buy” rating and set a $30.00 target price on shares of Rice Energy in a report on Tuesday, September 12th. Goldman Sachs Group lowered Rice Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $26.00 in a report on Friday, September 8th. Royal Bank Of Canada set a $27.00 target price on Rice Energy and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 target price on shares of Rice Energy in a report on Thursday, September 14th. Nineteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rice Energy presently has a consensus rating of “Hold” and a consensus target price of $27.71.
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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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