Rice Energy Inc. (RICE) Short Interest Update
Rice Energy Inc. (NYSE:RICE) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 7,123,220 shares, an increase of 68.7% from the October 14th total of 4,223,424 shares. Based on an average daily volume of 4,643,189 shares, the short-interest ratio is presently 1.5 days. Currently, 4.6% of the company’s stock are short sold.
A number of equities research analysts recently weighed in on RICE shares. National Securities restated a “buy” rating on shares of Rice Energy in a research note on Monday, November 7th. Johnson Rice restated a “hold” rating on shares of Rice Energy in a research note on Wednesday, September 28th. Williams Capital dropped their price target on Rice Energy from $29.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, November 7th. Zacks Investment Research cut Rice Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Finally, Jefferies Group restated a “buy” rating and issued a $31.00 price target on shares of Rice Energy in a research note on Tuesday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $27.58.
Rice Energy (NYSE:RICE) opened at 24.01 on Friday. Rice Energy has a 52-week low of $7.92 and a 52-week high of $29.36. The firm has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.06. The company’s market capitalization is $4.86 billion.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.39. Rice Energy had a positive return on equity of 0.75% and a negative net margin of 61.58%. The company had revenue of $198.90 million for the quarter, compared to analyst estimates of $216.58 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts predict that Rice Energy will post $0.09 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in Rice Energy during the third quarter worth about $115,000. Acadian Asset Management LLC acquired a new position in Rice Energy during the second quarter valued at approximately $118,000. BNP Paribas Arbitrage SA acquired a new position in Rice Energy during the second quarter valued at approximately $162,000. Pacad Investment Ltd. acquired a new position in Rice Energy during the second quarter valued at approximately $179,000. Finally, Texas Capital Bancshares Inc. TX acquired a new position in Rice Energy during the third quarter valued at approximately $206,000. Institutional investors own 75.80% of the company’s stock.
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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