Swiss National Bank Has $6.74 Million Position in Rice Energy Inc. (RICE)
Swiss National Bank lessened its stake in Rice Energy Inc. (NYSE:RICE) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,088 shares of the oil and gas producer’s stock after selling 14,000 shares during the quarter. Swiss National Bank owned about 0.12% of Rice Energy worth $6,740,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its stake in Rice Energy by 43.9% in the first quarter. UBS Asset Management Americas Inc. now owns 80,995 shares of the oil and gas producer’s stock valued at $1,920,000 after purchasing an additional 24,710 shares in the last quarter. Soros Fund Management LLC acquired a new position in Rice Energy in the first quarter valued at about $1,778,000. Kassirer Asset Management Corp acquired a new position in Rice Energy in the second quarter valued at about $5,326,000. KAMES CAPITAL plc raised its stake in Rice Energy by 29.6% in the second quarter. KAMES CAPITAL plc now owns 42,329 shares of the oil and gas producer’s stock valued at $1,127,000 after purchasing an additional 9,660 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Rice Energy by 13.5% in the second quarter. Rhumbline Advisers now owns 171,669 shares of the oil and gas producer’s stock valued at $4,572,000 after purchasing an additional 20,480 shares in the last quarter. 96.08% of the stock is owned by institutional investors and hedge funds.
Rice Energy Inc. (RICE) opened at 28.67 on Friday. Rice Energy Inc. has a 1-year low of $18.30 and a 1-year high of $29.55. The firm’s market cap is $6.13 billion. The stock has a 50 day moving average price of $27.33 and a 200 day moving average price of $23.82.
Rice Energy (NYSE:RICE) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $398.30 million for the quarter, compared to analysts’ expectations of $359.27 million. Rice Energy had a negative net margin of 3.00% and a positive return on equity of 3.27%. The business’s quarterly revenue was up 155.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.07) earnings per share. On average, analysts anticipate that Rice Energy Inc. will post $0.72 EPS for the current year.
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RICE has been the subject of a number of analyst reports. Jefferies Group LLC downgraded Rice Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BMO Capital Markets set a $30.00 price target on Rice Energy and gave the company a “buy” rating in a research note on Tuesday, August 8th. Stephens downgraded Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price target for the company. in a research note on Thursday, August 3rd. Mitsubishi UFJ Financial Group downgraded Rice Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $31.00 to $27.00 in a research note on Tuesday, June 20th. Finally, Williams Capital downgraded Rice Energy from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research note on Monday, July 3rd. Twenty-two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.16.
Rice Energy Company Profile
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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