Passport Capital buys $77,726,016 stake in Rice Energy Inc (RICE)

Rice Energy Inc (RICE) : Passport Capital scooped up 2,379,392 additional shares in Rice Energy Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,379,392 shares of Rice Energy Inc which is valued at $77,726,016.Rice Energy Inc makes up approximately 3.36% of Passport Capital’s portfolio.

Other Hedge Funds, Including , Princeton Alpha Management Lp sold out all of its stake in RICE during the most recent quarter. The investment firm sold 11,282 shares of RICE which is valued $248,881.Employees Retirement System Of Texas reduced its stake in RICE by selling 49,000 shares or 21.3% in the most recent quarter. The Hedge Fund company now holds 181,000 shares of RICE which is valued at $3,992,860. Rice Energy Inc makes up approx 0.05% of Employees Retirement System Of Texas’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in RICE in the latest quarter, The investment management firm added 16 additional shares and now holds a total of 24,208 shares of Rice Energy Inc which is valued at $524,345.

Rice Energy Inc opened for trading at $23.92 and hit $24.115 on the upside on Monday, eventually ending the session at $24.01, with a gain of 3.27% or 0.76 points. The heightened volatility saw the trading volume jump to 31,17,789 shares. Company has a market cap of $4,864 M.

On the company’s financial health, Rice Energy Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.39 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $0.02. The company had revenue of $198.90 million for the quarter, compared to analysts expectations of $210.38 million. The company’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Rice Energy Inc. Shares were Reiterated by Williams Capital Group on Nov 7, 2016 to “Hold” and Lowered the Price Target to $ 27 from a previous price target of $29 .Rice Energy Inc was Downgraded by Tudor Pickering to ” Hold” on Oct 13, 2016. Company shares were Reiterated by Scotia Howard Weil on Oct 11, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 32 from a previous price target of $30 .

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 operates in two segments: Exploration and Production and Midstream. Exploration and Production segment is engaged in the acquisition exploration and development of natural gas oil and NGLs. Midstream segment is engaged in the gathering and compression of natural gas oil and NGL production of and in the provision of water services to support the well completion activities of Rice Energy and third-parties. The Company’s Exploration and Production segment operates in the core of the Marcellus Utica Shales and Upper Devonian Shale. The Company’s midstream assets consist of gathering systems and associated compression infrastructure at Washington County System Greene County System and Belmont County System.

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