Short Interest in Rice Energy Inc. (RICE) Declines By 52.6%
Rice Energy Inc. (NYSE:RICE) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,255,176 shares, a drop of 52.6% from the October 13th total of 11,082,322 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 8,405,339 shares, the days-to-cover ratio is currently 0.6 days.
Several equities analysts recently weighed in on RICE shares. BidaskClub raised shares of Rice Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Stephens lowered 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 report on Thursday, August 3rd. Scotiabank reaffirmed a “hold” rating and set a $27.00 price objective on shares of Rice Energy in a research report on Thursday, August 3rd. BMO Capital Markets set a $30.00 price target on shares of Rice Energy and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $26.00 price target on shares of Rice Energy in a research report on Wednesday, August 16th. Nineteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.71.
Shares of Rice Energy (RICE) opened at $29.32 on Tuesday. The stock has a market cap of $6,690.00, a price-to-earnings ratio of 45.81 and a beta of 1.57. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 1.15. Rice Energy has a 52 week low of $18.30 and a 52 week high of $29.72.
Institutional investors have recently made changes to their positions in the company. Century Capital Management LLC boosted its stake in Rice Energy by 44.5% during the second quarter. Century Capital Management LLC now owns 73,489 shares of the oil and gas producer’s stock worth $1,957,000 after buying an additional 22,617 shares in the last quarter. Rhumbline Advisers boosted its stake in Rice Energy by 13.5% during the second quarter. Rhumbline Advisers now owns 171,669 shares of the oil and gas producer’s stock worth $4,572,000 after buying an additional 20,480 shares in the last quarter. Vanguard Group Inc. boosted its stake in Rice Energy by 2.3% during the second quarter. Vanguard Group Inc. now owns 12,999,586 shares of the oil and gas producer’s stock worth $346,180,000 after buying an additional 297,124 shares in the last quarter. Kassirer Asset Management Corp acquired a new stake in Rice Energy during the second quarter worth $5,326,000. Finally, Omni Partners LLP acquired a new stake in Rice Energy during the second quarter worth $12,467,000. Institutional investors and hedge funds own 87.22% of the company’s stock.
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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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