Great West Life Assurance Co. Can continued to hold its stake in shares of Rice Energy Inc. (NYSE:RICE) during the second quarter, Holdings Channel reports. The institutional investor owned 7,293 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Rice Energy were worth $101,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in Rice Energy during the second quarter valued at $118,000. Legal & General Group Plc boosted its position in Rice Energy by 57.7% in the first quarter. Legal & General Group Plc now owns 7,159 shares of the company’s stock valued at $100,000 after buying an additional 2,618 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in Rice Energy during the second quarter valued at $162,000. DUPONT CAPITAL MANAGEMENT Corp bought a new position in Rice Energy during the second quarter valued at $251,000. Finally, IBM Retirement Fund bought a new position in Rice Energy during the second quarter valued at $265,000. 95.95% of the stock is currently owned by institutional investors.
Shares of Rice Energy Inc. (NYSE:RICE) traded up 3.90% during trading on Friday, hitting $26.11. 7,059,484 shares of the stock were exchanged. Rice Energy Inc. has a 52 week low of $7.92 and a 52 week high of $29.36. The stock’s 50 day moving average price is $26.55 and its 200 day moving average price is $21.00. The firm’s market capitalization is $4.09 billion.
Rice Energy (NYSE:RICE) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $1.01. The company earned $116 million during the quarter, compared to the consensus estimate of $180.12 million. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. Rice Energy’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, equities analysts predict that Rice Energy Inc. will post $0.01 earnings per share for the current year.
Several research firms have weighed in on RICE. GMP Securities began coverage on shares of Rice Energy in a report on Wednesday. They issued a “buy” rating and a $34.00 price target on the stock. Zacks Investment Research cut shares of Rice Energy from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Deutsche Bank AG increased their price target on shares of Rice Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Tuesday, June 14th. Citigroup Inc. increased their price target on shares of Rice Energy from $22.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, Johnson Rice reissued a “hold” rating on shares of Rice Energy in a report on Wednesday. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.
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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