Sei Investments Co. Increases Stake in Rice Energy Inc (RICE)
Sei Investments Co. increased its position in shares of Rice Energy Inc (NYSE:RICE) by 758.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,297 shares of the oil and gas producer’s stock after buying an additional 11,748 shares during the period. Sei Investments Co.’s holdings in Rice Energy were worth $385,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new position in shares of Rice Energy during the second quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Rice Energy by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock valued at $149,000 after purchasing an additional 494 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Rice Energy by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock valued at $195,000 after purchasing an additional 1,362 shares during the last quarter. World Asset Management Inc purchased a new position in Rice Energy in the third quarter valued at about $210,000. Finally, GeoSphere Capital Management grew its stake in Rice Energy by 100.0% in the second quarter. GeoSphere Capital Management now owns 90,000 shares of the oil and gas producer’s stock valued at $240,000 after purchasing an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.
RICE has been the topic of several analyst reports. Cowen reiterated a “buy” rating and issued a $30.00 target price on shares of Rice Energy in a research note on Tuesday, September 12th. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. BMO Capital Markets set a $30.00 target price on Rice Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group set a $26.00 target price on Rice Energy and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, Scotiabank reiterated a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a research note on Wednesday, October 4th. Nineteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.71.
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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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