Tortoise Capital Advisors L.L.C. lowered its stake in Rice Energy Inc (NYSE:RICE) by 87.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,094 shares of the oil and gas producer’s stock after selling 333,627 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Rice Energy were worth $1,334,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in RICE. Seven Eight Capital LP acquired a new stake in shares of Rice Energy in the second quarter valued at about $118,000. 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 buying an additional 494 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Rice Energy by 22.9% during the second quarter. The Manufacturers Life Insurance Company now owns 7,304 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 1,362 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Rice Energy during the third quarter worth approximately $205,000. Finally, World Asset Management Inc acquired a new position in Rice Energy during the third quarter worth approximately $210,000. 87.22% of the stock is currently owned by institutional investors and hedge funds.
Rice Energy Inc (NYSE RICE) traded down $0.34 during trading on Friday, hitting $29.32. The stock had a trading volume of 26,809,102 shares, compared to its average volume of 5,313,636. Rice Energy Inc has a 52 week low of $18.30 and a 52 week high of $29.72. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $6,690.00, a P/E ratio of 45.81 and a beta of 1.57.
A number of equities analysts have weighed in on the company. Mizuho reissued a “hold” rating and set a $27.50 price target on shares of Rice Energy in a research report on Friday, October 27th. Cowen set a $30.00 price target on Rice Energy and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $30.00 price target on Rice Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Jefferies Group set a $26.00 price target on Rice Energy and gave the stock a “hold” rating in a research report on Thursday, October 5th. Finally, BidaskClub downgraded Rice Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Nineteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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