Parkwood LLC increased its position in Rice Energy Inc. (NYSE:RICE) by 140.7% during the second quarter, Holdings Channel reports. The firm owned 58,883 shares of the company’s stock after buying an additional 34,422 shares during the period. Parkwood LLC’s holdings in Rice Energy were worth $1,518,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in RICE. Acadian Asset Management LLC acquired a new stake in Rice Energy during the second quarter worth approximately $118,000. Legal & General Group Plc increased its stake in Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock worth $100,000 after buying an additional 2,618 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Rice Energy during the second quarter worth approximately $162,000. IBM Retirement Fund acquired a new stake in Rice Energy during the second quarter worth approximately $265,000. Finally, Loomis Sayles & Co. L P acquired a new stake in Rice Energy during the first quarter worth approximately $234,000. 95.95% of the stock is currently owned by institutional investors.
Rice Energy Inc. (NYSE:RICE) traded down 3.89% on Friday, hitting $26.92. The stock had a trading volume of 2,541,229 shares. The stock’s market cap is $4.22 billion. The company’s 50-day moving average is $26.41 and its 200-day moving average is $20.46. Rice Energy Inc. has a one year low of $7.92 and a one year high of $29.36.
Rice Energy (NYSE:RICE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $1.01. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The business had revenue of $116 million for the quarter, compared to analyst estimates of $180.12 million. During the same quarter last year, the business earned $0.03 EPS. Rice Energy’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Rice Energy Inc. will post $0.02 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Rice Energy from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Deutsche Bank AG lifted their target price on Rice Energy from $19.00 to $21.00 and gave the company a “hold” rating in a research report on Tuesday, June 14th. Citigroup Inc. lifted their target price on Rice Energy from $22.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Barclays PLC lifted their target price on Rice Energy from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, July 14th. Finally, Williams Capital assumed coverage on Rice Energy in a research report on Monday, August 29th. They issued a “hold” rating and a $29.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $22.68.
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.
Want to see what other hedge funds are holding RICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rice Energy Inc. (NYSE:RICE).
Receive News & Ratings for Rice Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rice Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.