Some Traders Are Very Bullish on Rice Energy Inc (RICE) After Forming Inverse Head & Shoulders

June 19, 2017 - By Adrian Erickson

Investors sentiment decreased to 1.5 in 2016 Q4. Its down 0.06, from 1.56 in 2016Q3. It dropped, as 41 investors sold Rice Energy Inc shares while 60 reduced holdings. 42 funds opened positions while 109 raised stakes. 171.99 million shares or 0.36% less from 172.62 million shares in 2016Q3 were reported.
Numeric Invsts Lc owns 278,000 shares. Castleark Mngmt Ltd reported 277,270 shares. Lord Abbett And Ltd Liability Co stated it has 0.24% in Rice Energy Inc (NYSE:RICE). Ibm Retirement Fund holds 11,403 shares or 0.01% of its portfolio. Texas Cap Natl Bank Tx holds 0.48% of its portfolio in Rice Energy Inc (NYSE:RICE) for 9,863 shares. Stephens Inc Ar holds 15,105 shares. Adage Cap Prtnrs Limited Liability Corporation invested 0.08% in Rice Energy Inc (NYSE:RICE). 52,661 were accumulated by Allianz Asset Ag. Steadfast Advsr L P holds 2.71% or 259,258 shares in its portfolio. Commonwealth Of Pennsylvania Pub School Empls Retrmt stated it has 320,976 shares or 0.13% of all its holdings. Utah Retirement Systems invested in 0.02% or 28,100 shares. D E Shaw And Incorporated holds 903,521 shares. Discovery Cap Mgmt Ltd Liability Ct stated it has 0.72% of its portfolio in Rice Energy Inc (NYSE:RICE). 329,731 were reported by California State Teachers Retirement. Raiff Prns holds 0.03% of its portfolio in Rice Energy Inc (NYSE:RICE) for 500 shares.

The stock of Rice Energy Inc (RICE) formed H&SI with $27.02 price target or 7.00 % above the current $25.25 share price. The 7 months Head & Shoulders Inverse reveals low risk for the $4.03B company. This trade was featured by Faxor.com on Jun, 19. If the $27.02 target price is reached, the company’s valuation will be $282.10M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

About 548,520 shares traded. Rice Energy Inc (NYSE:RICE) has risen 14.59% since June 19, 2016 and is uptrending. It has underperformed by 2.11% the S&P500.

Analysts expect Rice Energy Inc (NYSE:RICE) to report $0.17 EPS on August, 2.They anticipate $0.24 EPS change or 342.86 % from last quarter’s $-0.07 EPS. RICE’s profit would be $27.19 million giving it 37.06 P/E if the $0.17 EPS is correct. After having $0.12 EPS previously, Rice Energy Inc’s analysts see 41.67 % EPS growth.

Rice Energy Inc (NYSE:RICE) Ratings Coverage

Among 22 analysts covering Rice Energy (NYSE:RICE), 16 have Buy rating, 0 Sell and 6 Hold. Therefore 73% are positive. Rice Energy has $43 highest and $9.50 lowest target. $26.19’s average target is 3.72% above currents $25.25 stock price. Rice Energy had 61 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was initiated by Stifel Nicolaus with “Buy” on Friday, March 24. The stock has “Hold” rating by SunTrust on Monday, January 30. The firm has “Hold” rating given on Wednesday, August 10 by Deutsche Bank. Williams Capital Group initiated the stock with “Hold” rating in Monday, August 29 report. On Monday, September 21 the stock rating was initiated by Jefferies with “Buy”. The stock of Rice Energy Inc (NYSE:RICE) has “Buy” rating given on Wednesday, March 30 by Seaport Global. The stock has “Buy” rating by Williams Capital Group on Tuesday, January 24. The stock has “Overweight” rating by Barclays Capital on Monday, December 19. Citigroup maintained it with “Neutral” rating and $22 target in Monday, July 18 report. The company was maintained on Thursday, April 7 by Citigroup.

More news for Rice Energy Inc (NYSE:RICE) were recently published by: Post-Gazette.com, which released: “EQT to acquire Rice Energy for $6.7 Billion” on June 19, 2017. Reuters.com‘s article titled: “Oil and gas producer EQT to buy Rice Energy in $6.7 billion deal” and published on June 19, 2017 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.