Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Rice Energy's merger with EQT is still considered pending despite concern from activists. Jana Partners, which holds 5% of EQT, is campaigning against the takeover of Rice and instead wants EQT to separate its midstream holdings. D.E. Shaw, which holds 4% of EQT, also wants a breakup but only after the Rice deal closes. We have widened our fair value uncertainty rating to medium to reflect the contest from Jana, but our fair value estimate still assumes the deal will be consummated as planned (t...
We’re slightly modifying our near-term outlook for oil prices, given the increased likelihood that OPEC will extend production cuts at its November meeting to the end of 2018. In our base case, we now expect the cartel and its partners will agree to continue withholding 1.8 million barrels, or mmbbls, per day of oil throughout 2018, despite the threat of surging U.S. production and the potential loss of share. However, the effectiveness of the cuts depends on the level of compliance. Our forec...
NEW YORK--(BUSINESS WIRE)-- The Law Offices of Vincent Wong are investigating the Board of Directors of Rice Energy Inc. (NYSE:RICE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to EQT Corporation (NYSE:EQT). Under the terms of the deal, Rice Energy shareholders will receive 0.37 shares of EQT common stock and $5.30 in cash per Rice Energy share. Based on the closing price of EQT stock on the last business day prior to the merger announcement, this represents an a...
The general evaluation of RICE ENERGY INCO. (US), a company active in the Exploration & Production industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 15, 2017, the clo...
 Rice Energy’s second quarter financial results were mixed, with adjusted EBITDA and adjusted earnings per share coming in at $223 million and $0.20 respectively (consensus estimates were $243 million and $0.13). The firm delivered production of 1,354 mmcfe/d in the second quarter, which was 6% higher sequentially and 79% higher year-over-year. This compares favorably with our forecast of 1,262 mmcfe/d. However, management's guidance for full-year production was not updated due to the pendi...
On June 19, Rice Energy announced that it has agreed to be acquired by EQT Corp. for a total consideration of $6.7 billion, consisting of 0.37 shares of EQT stock and $5.30 in cash per share of Rice stock. That equates to roughly $27 per share, reflecting a 37% premium to the closing price on the trading day before the announcement. We believe the deal is very likely to close during the fourth quarter as planned. Accordingly, our new fair value estimate is $27 per share, with a low uncertainty r...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Rice Energy Inc. (NYSE: RICE) (“Rice Energy” or the “Company”) relating to the proposed buyout of Rice Energy by EQT Corporation. Under the terms of the agreement, Rice Energy shareholders are anticipated to receive 0.37 shares of EQT common stock and $5.30 in cash for each ...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Rice Energy Inc. (“Rice”) (NYSE: RICE) concerning the acquisition by EQT Corporation (NYSE: EQT). Under the terms of the agreement, valued at approximately $6.7 billion, Rice shareholders will only receive $0.37 shares of EQT common stock and $5.30 in cash per Rice share owned. Based on the closing price of EQT stock before the merger was announced, the considerat...
NEW YORK--(BUSINESS WIRE)-- he following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Rice Energy Inc. (NYSE:RICE) stock prior to June 19, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Rice Energy to EQT Corporation (NYSE: EQT) for 0.37 shares of EQT common stock and $5.30 in cash per Rice Energy share. Based on the closing price of EQT stock on the last business day prior to the merger a...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Rice Energy Inc. (NYSE: RICE) (“Rice Energy” or the “Company”) relating to the proposed buyout of Rice Energy by EQT Corporation. Under the terms of the agreement, Rice Energy shareholders are anticipated to receive 0.37 shares of EQT common stock and $5.30 in cash for each ...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Rice Energy Inc. (NYSE: RICE)? Did you purchase any of your shares prior to June 19, 2017? Do you think the proposed buyout is fair? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Rice Energy Inc. (“Rice” or the “Company”) (NYSE: RICE) regarding possible breache...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Rice Energy Inc. (NYSE: RICE) stock prior to June 19, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Rice Energy to EQT Corporation (NYSE: EQT) for 0.37 shares of EQT common stock and $5.30 in cash per Rice Energy share. Based on the closing price of EQT stock on the last business day prior to the merger ...
Rice Energy delivered production of 1,273 million cubic feet equivalent per day in the first quarter, which was 11% higher sequentially and 89% higher year over year. This compares with our forecast of 1,278 mmcfe/d. The firm reported first-quarter adjusted earnings before interest, taxes, depreciation and amortization, and exploration of $244 million, approximately 7% below consensus. In the release, the firm laid out its plans to increase the output of its exploration and production business w...
Rice Energy delivered production of 1,273 million cubic feet equivalent per day in the first quarter, which was 11% higher sequentially and 89% higher year over year. This compares with our forecast of 1,278 mmcfe/d. The firm reported first-quarter adjusted earnings before interest, taxes, depreciation and amortization, and exploration of $244 million, approximately 7% below consensus. In the release, the firm laid out its plans to increase the output of its exploration and production business w...
Rice Energy reported fourth-quarter production of 1,145 million cubic feet equivalent per day (99% natural gas). That pushed full-year volumes up to 831 mmcfe/d, which beat our estimate and was 4% above the top end of guidance as well. Consequently the firm's financial results were better than expected, too, with adjusted EBITDA of $197 million in the fourth quarter (13% higher than consensus estimates). Proved reserves increased 136% to 4 Tcfe (55% developed). Management has set the 2017 budget...
Rice Energy reported fourth-quarter production of 1,145 million cubic feet equivalent per day (99% natural gas). That pushed full-year volumes up to 831 mmcfe/d, which beat our estimate and was 4% above the top end of guidance as well. Consequently the firm's financial results were better than expected, too, with adjusted EBITDA of $197 million in the fourth quarter (13% higher than consensus estimates). Proved reserves increased 136% to 4 Tcfe (55% developed). Management has set the 2017 budget...
OPEC's production cuts and strong demand growth have 2017 crude fundamentals in their best shape since oil prices crashed two years ago. The consensus outlook is that fundamentals are now strong enough to remain healthy even after OPEC's cuts lapse. This might have been possible a few months ago, but the odds of this scenario playing out have markedly worsened since. The reason is that major increases in shale activity now have U.S. production firmly on a path of rapid growth, even if rig counts...
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.