Steadfast Capital Management LP Sells 2,673,918 Shares of Rice Energy Inc. (RICE)
Steadfast Capital Management LP lowered its stake in Rice Energy Inc. (NYSE:RICE) by 52.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,458,444 shares of the oil and gas producer’s stock after selling 2,673,918 shares during the period. Rice Energy makes up approximately 1.2% of Steadfast Capital Management LP’s portfolio, making the stock its 29th biggest holding. Steadfast Capital Management LP owned about 1.15% of Rice Energy worth $65,468,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Tyrus Capital S.A.M. acquired a new position in shares of Rice Energy in the second quarter valued at approximately $30,625,000. BlueCrest Capital Management Ltd increased its holdings in shares of Rice Energy by 612.7% in the second quarter. BlueCrest Capital Management Ltd now owns 226,848 shares of the oil and gas producer’s stock valued at $6,041,000 after purchasing an additional 195,020 shares during the period. State Street Corp increased its holdings in shares of Rice Energy by 8.7% in the second quarter. State Street Corp now owns 4,377,768 shares of the oil and gas producer’s stock valued at $116,583,000 after purchasing an additional 349,798 shares during the period. Pentwater Capital Management LP acquired a new position in shares of Rice Energy in the second quarter valued at approximately $49,798,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Rice Energy in the second quarter valued at approximately $663,000. 96.08% of the stock is currently owned by institutional investors and hedge funds.
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Rice Energy Inc. (NYSE RICE) traded down 2.431% during mid-day trading on Friday, reaching $27.895. The company’s stock had a trading volume of 4,070,028 shares. The firm’s 50 day moving average price is $27.79 and its 200 day moving average price is $24.66. Rice Energy Inc. has a 52 week low of $18.30 and a 52 week high of $29.55. The firm’s market capitalization is $5.96 billion.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company 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 period in the prior year, the business earned ($1.07) earnings per share. On average, analysts anticipate that Rice Energy Inc. will post $0.71 EPS for the current fiscal year.
A number of research analysts have recently issued reports on RICE shares. Cowen and Company set a $30.00 target price on Rice Energy and gave the company a “buy” rating in a report on Wednesday, July 19th. Scotiabank reissued a “buy” rating and issued a $29.00 target price on shares of Rice Energy in a report on Monday, June 19th. Wolfe Research lowered Rice Energy from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $24.00 to $27.00 in a report on Thursday, June 29th. BidaskClub lowered Rice Energy from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, KLR Group lowered Rice Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $27.00 in a report on Tuesday, June 27th. Twenty analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Rice Energy currently has an average rating of “Hold” and an average price target of $27.93.
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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