Rice Energy Inc. (NYSE:RICE) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 5,255,176 shares, a decrease of 52.6% from the October 13th total of 11,082,322 shares. Based on an average trading volume of 8,405,339 shares, the short-interest ratio is presently 0.6 days. Approximately 2.4% of the shares of the stock are sold short.
Rice Energy (NYSE RICE) opened at $29.32 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.36. The company has a market cap of $6,690.00, a price-to-earnings ratio of 45.81 and a beta of 1.57. Rice Energy has a 1 year low of $18.30 and a 1 year high of $29.72.
Several analysts have issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price on shares of Rice Energy in a research note on Thursday, September 14th. Royal Bank Of Canada reissued a “hold” rating and set a $27.00 target price on shares of Rice Energy in a research note on Friday, September 29th. BMO Capital Markets set a $30.00 target price on shares of Rice Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. BidaskClub downgraded shares of Rice Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Jefferies Group LLC set a $26.00 target price on shares of Rice Energy and gave the company a “hold” rating in a research note on Thursday, October 5th. Nineteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.71.
A number of institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System increased its position in Rice Energy by 1.7% during the third quarter. California Public Employees Retirement System now owns 296,400 shares of the oil and gas producer’s stock worth $8,578,000 after buying an additional 5,000 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Rice Energy during the third quarter valued at about $420,000. Point72 Asset Management L.P. bought a new stake in Rice Energy during the third quarter valued at about $1,033,000. Vident Investment Advisory LLC bought a new stake in Rice Energy during the third quarter valued at about $264,000. Finally, Westchester Capital Management LLC boosted its holdings in Rice Energy by 179.5% during the third quarter. Westchester Capital Management LLC now owns 3,908,860 shares of the oil and gas producer’s stock valued at $113,122,000 after acquiring an additional 2,510,184 shares during the period. 87.22% of the stock is currently owned by hedge funds and other institutional investors.
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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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