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Why Rice Energy (RICE) Stock Is Gaining Today

NEW YORK (TheStreet) -- Rice Energy (RICE - Get Report) shares are climbing, up 3.6% to $29.90, on Tuesday following the release of the company's first quarter earnings results.

The company reported revenue of $90.46 million, well ahead of analysts consensus estimate of $76.6 million.

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The independent oil and gas company reported net income of $124.1 million, or 99 cents per diluted share, also ahead of analysts 13 cents per share estimates.

The large gap in analysts expectations can partially be attributed to the company going public in January, raising $924 million from its IPO.

RICE Chart

RICE data by YCharts

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