Victory Capital Management Inc. Has $48,199,000 Position in Rice Energy Inc. (RICE)
Victory Capital Management Inc. decreased its stake in Rice Energy Inc. (NYSE:RICE) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,846,020 shares of the company’s stock after selling 114,172 shares during the period. Victory Capital Management Inc.’s holdings in Rice Energy were worth $48,199,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Advisors LLC purchased a new stake in Rice Energy during the second quarter valued at about $117,712,000. FMR LLC increased its stake in Rice Energy by 222.7% in the second quarter. FMR LLC now owns 3,444,714 shares of the company’s stock valued at $75,921,000 after buying an additional 2,377,400 shares during the period. Vanguard Group Inc. increased its stake in Rice Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 8,087,836 shares of the company’s stock valued at $178,256,000 after buying an additional 2,195,887 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Rice Energy during the second quarter valued at about $39,143,000. Finally, Dimensional Fund Advisors LP increased its stake in Rice Energy by 58.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,592,963 shares of the company’s stock valued at $101,232,000 after buying an additional 1,702,757 shares during the period. Institutional investors own 91.36% of the company’s stock.
Shares of Rice Energy Inc. (NYSE:RICE) traded up 2.38% during midday trading on Wednesday, hitting $25.42. The company had a trading volume of 438,961 shares. The company’s market capitalization is $5.15 billion. Rice Energy Inc. has a 52 week low of $7.92 and a 52 week high of $29.36. The firm’s 50 day moving average is $24.08 and its 200 day moving average is $23.69.
Rice Energy (NYSE:RICE) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.39. Rice Energy had a positive return on equity of 0.75% and a negative net margin of 61.58%. The company had revenue of $198.90 million for the quarter, compared to the consensus estimate of $216.58 million. During the same quarter in the previous year, the business earned $0.03 EPS. Rice Energy’s revenue was up 38.5% compared to the same quarter last year. Equities research analysts anticipate that Rice Energy Inc. will post $0.08 EPS for the current year.
A number of analysts have recently weighed in on the company. Jefferies Group reiterated a “buy” rating on shares of Rice Energy in a research report on Friday, September 9th. Tudor Pickering downgraded Rice Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 13th. Howard Weil upped their target price on Rice Energy from $30.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Tuesday, October 11th. Scotiabank reiterated a “sector outperform” rating and set a $32.00 target price (up from $30.00) on shares of Rice Energy in a research report on Wednesday, October 12th. Finally, Goldman Sachs Group Inc. downgraded Rice Energy from a “neutral” rating to a “not rated” rating in a research report on Tuesday, September 27th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Rice Energy presently has a consensus rating of “Buy” and an average price target of $27.79.
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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