Rice Energy Inc. (RICE) Shares Sold by Riverstone Holdings LLC
Riverstone Holdings LLC cut its stake in shares of Rice Energy Inc. (NYSE:RICE) by 49.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,410,866 shares of the oil and gas producer’s stock after selling 3,348,470 shares during the period. Rice Energy makes up approximately 3.2% of Riverstone Holdings LLC’s portfolio, making the stock its 5th largest position. Riverstone Holdings LLC’s holdings in Rice Energy were worth $90,831,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in RICE. Tyers Asset Management LLC bought a new position in Rice Energy during the first quarter worth approximately $291,000. Caymus Capital Partners L.P. boosted its position in Rice Energy by 11.0% in the first quarter. Caymus Capital Partners L.P. now owns 2,442,100 shares of the oil and gas producer’s stock worth $57,878,000 after buying an additional 241,400 shares during the last quarter. Jennison Associates LLC boosted its position in Rice Energy by 10.0% in the first quarter. Jennison Associates LLC now owns 1,391,064 shares of the oil and gas producer’s stock worth $32,968,000 after buying an additional 126,526 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Rice Energy during the first quarter worth approximately $280,000. Finally, Rubric Capital Management LP bought a new position in Rice Energy during the first quarter worth approximately $9,504,000.
Shares of Rice Energy Inc. (NYSE RICE) opened at 27.57 on Thursday. The stock’s market capitalization is $5.61 billion. Rice Energy Inc. has a 52-week low of $18.30 and a 52-week high of $29.55. The firm’s 50 day moving average is $26.70 and its 200 day moving average is $22.62.
Rice Energy (NYSE:RICE) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the 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 firm had revenue of $398.30 million during the quarter, compared to analyst estimates of $359.27 million. During the same period in the prior year, the firm earned ($1.07) earnings per share. The business’s revenue was up 155.3% compared to the same quarter last year. Equities analysts expect that Rice Energy Inc. will post $0.57 earnings per share for the current year.
A number of research firms have recently commented on RICE. Capital One Financial Corporation cut shares of Rice Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 20th. Seaport Global Securities cut shares of Rice Energy from a “buy” rating to a “neutral” rating in a report on Wednesday, June 21st. BidaskClub upgraded shares of Rice Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. William Blair cut shares of Rice Energy from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Monday, July 3rd. Finally, Scotiabank restated a “hold” rating and issued a $27.00 price target on shares of Rice Energy in a report on Thursday, August 3rd. Nineteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Rice Energy has a consensus rating of “Hold” and a consensus price target of $28.02.
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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