Insider Selling: Rice Energy Inc. (RICE) Insider Sells 114,523 Shares of Stock
Rice Energy Inc. (NYSE:RICE) insider James Wilmot Rogers sold 114,523 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $25.50, for a total transaction of $2,920,336.50. Following the sale, the insider now directly owns 89,781 shares of the company’s stock, valued at $2,289,415.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Rice Energy Inc. (NYSE:RICE) traded down 1.93% during trading on Wednesday, hitting $24.35. 6,372,600 shares of the stock traded hands. Rice Energy Inc. has a 1-year low of $7.92 and a 1-year high of $29.36. The stock has a 50 day moving average price of $24.01 and a 200-day moving average price of $23.74. The stock’s market cap is $4.93 billion.
Rice Energy (NYSE:RICE) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.39. Rice Energy had a negative net margin of 61.58% and a positive return on equity of 0.75%. The business earned $198.90 million during the quarter, compared to the consensus estimate of $216.58 million. During the same quarter last year, the firm posted $0.03 EPS. Rice Energy’s revenue was up 38.5% compared to the same quarter last year. Equities analysts forecast that Rice Energy Inc. will post $0.08 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. BlackRock Group LTD increased its stake in Rice Energy by 5.8% in the first quarter. BlackRock Group LTD now owns 79,963 shares of the company’s stock valued at $1,117,000 after buying an additional 4,390 shares during the last quarter. Barclays PLC increased its stake in Rice Energy by 572.6% in the first quarter. Barclays PLC now owns 58,586 shares of the company’s stock valued at $762,000 after buying an additional 49,876 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Rice Energy during the second quarter valued at about $162,000. Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new stake in Rice Energy during the second quarter valued at about $454,000. Finally, Fox Run Management L.L.C. acquired a new stake in Rice Energy during the second quarter valued at about $668,000. 91.36% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on RICE. Jefferies Group set a $32.00 price objective on shares of Rice Energy and gave the company a “buy” rating in a report on Tuesday, October 18th. RBC Capital Markets restated a “buy” rating and set a $30.00 price objective (up previously from $29.00) on shares of Rice Energy in a report on Monday, October 3rd. National Securities restated a “buy” rating on shares of Rice Energy in a report on Monday, November 7th. Johnson Rice restated a “hold” rating on shares of Rice Energy in a report on Wednesday, September 28th. Finally, Royal Bank Of Canada boosted their price objective on shares of Rice Energy from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 3rd. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Rice Energy has a consensus rating of “Buy” and a consensus target price of $27.79.
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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