Cowen Inc. Takes Position in Rice Energy Inc. (RICE)
Cowen Inc. acquired a new stake in Rice Energy Inc. (NYSE:RICE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 752,146 shares of the oil and gas producer’s stock, valued at approximately $20,030,000. Rice Energy comprises approximately 1.1% of Cowen Inc.’s portfolio, making the stock its 13th biggest position. Cowen Inc. owned approximately 0.35% of Rice Energy as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in RICE. FNY Partners Fund LP purchased a new stake in shares of Rice Energy in the 1st quarter worth $127,000. Exane Asset Management purchased a new stake in shares of Rice Energy in the 2nd quarter worth $132,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rice Energy by 9.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock worth $149,000 after buying an additional 494 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of Rice Energy in the 1st quarter worth $190,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Rice Energy in the 1st quarter worth $211,000. 96.08% of the stock is currently owned by institutional investors.
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Shares of Rice Energy Inc. (NYSE:RICE) traded up 0.840% on Monday, reaching $27.015. The company had a trading volume of 1,537,349 shares. The company’s market capitalization is $5.78 billion. Rice Energy Inc. has a 52 week low of $18.30 and a 52 week high of $29.55. The company has a 50 day moving average of $27.31 and a 200-day moving average of $23.57.
Rice Energy (NYSE:RICE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $398.30 million for the quarter, compared to analysts’ expectations of $359.27 million. Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The firm’s quarterly revenue was up 155.3% on a year-over-year basis. During the same period last year, the firm earned ($1.07) earnings per share. Analysts predict that Rice Energy Inc. will post $0.67 earnings per share for the current fiscal year.
RICE has been the subject of several research reports. Jefferies Group LLC cut Rice Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets set a $30.00 target price on Rice Energy and gave the stock a “buy” rating in a report on Tuesday, August 8th. Stephens cut Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 target price for the company. in a report on Thursday, August 3rd. Mitsubishi UFJ Financial Group cut Rice Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $27.00 in a report on Tuesday, June 20th. Finally, Williams Capital cut Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a report on Monday, July 3rd. Twenty-two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Rice Energy presently has an average rating of “Hold” and a consensus target price of $28.16.
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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