Rice Energy Inc. (RICE) Sees Large Drop in Short Interest
Rice Energy Inc. (NYSE:RICE) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 7,490,831 shares, a drop of 24.5% from the August 15th total of 9,927,134 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average trading volume of 2,681,107 shares, the short-interest ratio is presently 2.8 days.
Shares of Rice Energy (RICE) opened at 28.51 on Tuesday. The stock has a 50 day moving average price of $27.32 and a 200 day moving average price of $23.95. The firm’s market capitalization is $6.10 billion. Rice Energy has a 12 month low of $18.30 and a 12 month high of $29.55.
Rice Energy (NYSE:RICE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.10 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 the consensus estimate of $359.27 million. During the same period last year, the firm earned ($1.07) earnings per share. The company’s quarterly revenue was up 155.3% compared to the same quarter last year. On average, analysts expect that Rice Energy will post $0.72 earnings per share for the current year.
Several hedge funds have recently modified their holdings of RICE. Seven Eight Capital LP bought a new stake in shares of Rice Energy in the 2nd quarter valued at about $118,000. FNY Partners Fund LP bought a new stake in shares of Rice Energy in the 1st quarter valued at about $127,000. Exane Asset Management bought a new stake in shares of Rice Energy in the 2nd quarter valued at about $132,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rice Energy by 9.7% in the 2nd 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 period. Finally, Advisors Asset Management Inc. bought a new stake in shares of Rice Energy in the 1st quarter valued at about $190,000. 96.08% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on RICE shares. Royal Bank Of Canada set a $28.00 price objective on Rice Energy and gave the stock a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded Rice Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Mizuho reiterated a “buy” rating and set a $34.00 price objective on shares of Rice Energy in a report on Friday, June 16th. Jefferies Group LLC set a $26.00 price objective on Rice Energy and gave the stock a “buy” rating in a report on Saturday, June 17th. Finally, Williams Capital reiterated a “buy” rating and set a $27.00 price objective on shares of Rice Energy in a report on Monday, June 19th. Twenty-two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.16.
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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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