Rice Energy Inc. (RICE) Short Interest Down 52.6% in October

Rice Energy Inc. (NYSE:RICE) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,255,176 shares, a drop of 52.6% from the October 13th total of 11,082,322 shares. Based on an average daily trading volume, of 8,405,339 shares, the days-to-cover ratio is presently 0.6 days. Approximately 2.4% of the shares of the stock are short sold.

Rice Energy (NYSE:RICE) opened at $29.32 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. Rice Energy has a 1-year low of $18.30 and a 1-year high of $29.72. The stock has a market capitalization of $6,685.94, a PE ratio of 45.81 and a beta of 1.57.

A number of brokerages have recently weighed in on RICE. Royal Bank Of Canada restated a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a research note on Friday, September 29th. BidaskClub upgraded Rice Energy from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Stifel Nicolaus restated a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a research note on Thursday, September 14th. Jefferies Group LLC 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 restated a “hold” rating and issued a $27.00 target price on shares of Rice Energy in a research note on Thursday, August 3rd. Nineteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.71.

A number of institutional investors and hedge funds have recently modified their holdings of RICE. Teachers Advisors LLC boosted its holdings in Rice Energy by 6.9% during the first quarter. Teachers Advisors LLC now owns 223,673 shares of the oil and gas producer’s stock worth $5,301,000 after buying an additional 14,436 shares during the last quarter. Legal & General Group Plc boosted its holdings in Rice Energy by 233.6% during the first quarter. Legal & General Group Plc now owns 52,543 shares of the oil and gas producer’s stock worth $1,245,000 after buying an additional 36,794 shares during the last quarter. BlackRock Inc. boosted its holdings in Rice Energy by 4,630.0% during the first quarter. BlackRock Inc. now owns 5,078,278 shares of the oil and gas producer’s stock worth $120,357,000 after buying an additional 4,970,915 shares during the last quarter. Aperio Group LLC boosted its holdings in Rice Energy by 42.5% during the second quarter. Aperio Group LLC now owns 25,301 shares of the oil and gas producer’s stock worth $674,000 after buying an additional 7,551 shares during the last quarter. Finally, Exane Asset Management bought a new position in Rice Energy during the second quarter worth about $132,000. Hedge funds and other institutional investors own 87.22% of the company’s stock.

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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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