Pentwater Capital Management LP Buys Shares of 1,870,000 Rice Energy Inc. (RICE)
Pentwater Capital Management LP bought a new position in shares of Rice Energy Inc. (NYSE:RICE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,870,000 shares of the oil and gas producer’s stock, valued at approximately $49,798,000. Rice Energy comprises approximately 0.4% of Pentwater Capital Management LP’s investment portfolio, making the stock its 23rd biggest position. Pentwater Capital Management LP owned approximately 0.87% of Rice Energy as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Seven Eight Capital LP acquired a new stake in Rice Energy in the second quarter valued at $118,000. Exane Asset Management acquired a new stake in shares of Rice Energy during the 2nd quarter worth about $132,000. FNY Partners Fund LP bought a new position in Rice Energy during the first quarter worth about $127,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rice Energy by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,605 shares of the oil and gas producer’s stock worth $149,000 after acquiring an additional 494 shares during the period. Finally, Blair William & Co. IL bought a new position in Rice Energy during the second quarter worth about $346,000. Institutional investors and hedge funds own 96.08% of the company’s stock.
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Shares of Rice Energy Inc. (NYSE RICE) traded down 0.76% during trading on Friday, reaching $27.52. The company’s stock had a trading volume of 3,421,365 shares. Rice Energy Inc. has a one year low of $18.30 and a one year high of $29.55. The company has a 50-day moving average price of $27.94 and a 200-day moving average price of $24.94. The stock’s market cap is $5.88 billion.
Rice Energy (NYSE:RICE) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Rice Energy had a positive return on equity of 3.27% and a negative net margin of 3.00%. The business had revenue of $398.30 million for the quarter, compared to analyst estimates of $359.27 million. During the same period last year, the business earned ($1.07) EPS. Rice Energy’s revenue was up 155.3% compared to the same quarter last year. On average, equities research analysts forecast that Rice Energy Inc. will post $0.68 earnings per share for the current fiscal year.
A number of research firms recently commented on RICE. BMO Capital Markets set a $30.00 price target on shares of Rice Energy and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Group LLC set a $26.00 price target on shares of Rice Energy and gave the company a “hold” rating in a research note on Thursday, October 5th. BidaskClub downgraded shares of Rice Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Scotiabank reiterated a “hold” rating and set a $27.00 target price on shares of Rice Energy in a research report on Wednesday, October 4th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $27.00 price target on shares of Rice Energy in a research report on Friday, September 29th. Nineteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.71.
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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