GLG Partners LP Takes Position in Rice Energy Inc. (RICE)
GLG Partners LP purchased a new stake in Rice Energy Inc. (NYSE:RICE) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 80,184 shares of the oil and gas producer’s stock, valued at approximately $2,135,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ontario Teachers Pension Plan Board bought a new position in shares of Rice Energy during the 2nd quarter valued at about $3,728,000. Cobalt Capital Management Inc. grew its stake in shares of Rice Energy by 86.1% in the 2nd quarter. Cobalt Capital Management Inc. now owns 1,555,933 shares of the oil and gas producer’s stock worth $41,434,000 after purchasing an additional 719,933 shares during the last quarter. Global Endowment Management LP grew its stake in shares of Rice Energy by 20.4% in the 2nd quarter. Global Endowment Management LP now owns 25,970 shares of the oil and gas producer’s stock worth $691,000 after purchasing an additional 4,400 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Rice Energy by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,122,314 shares of the oil and gas producer’s stock worth $109,779,000 after purchasing an additional 561,823 shares during the last quarter. Finally, Whetstone Capital Advisors LLC grew its stake in shares of Rice Energy by 46.6% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 316,520 shares of the oil and gas producer’s stock worth $8,853,000 after purchasing an additional 100,600 shares during the last quarter. 96.08% of the stock is owned by institutional investors.
Rice Energy Inc. (NYSE RICE) traded down 0.90% on Tuesday, hitting $28.77. 498,063 shares of the stock traded hands. Rice Energy Inc. has a 52 week low of $18.30 and a 52 week high of $29.55. The stock’s market cap is $6.15 billion. The firm’s 50 day moving average is $27.64 and its 200 day moving average is $24.55.
Rice Energy (NYSE:RICE) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The business had revenue of $398.30 million for the quarter, compared to the consensus estimate of $359.27 million. Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The business’s revenue was up 155.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.07) earnings per share. Equities analysts anticipate that Rice Energy Inc. will post $0.72 earnings per share for the current year.
A number of analysts recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a report on Friday. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a research report on Thursday, September 28th. Stifel Nicolaus reissued a “hold” rating and set a $27.00 price objective on shares of Rice Energy in a research note on Thursday, September 14th. Stephens lowered Rice Energy from an “overweight” rating to an “equal weight” rating and set a $30.00 price objective for the company. in a research note on Thursday, August 3rd. Finally, Scotiabank reaffirmed a “hold” rating and set a $27.00 target price on shares of Rice Energy in a report on Thursday, August 3rd. Twenty research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Rice Energy presently has a consensus rating of “Hold” and an average target price of $27.88.
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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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