Vote of Confidence: 2nd Rice Energy Exec Purchased Company Stock

eating your own dog foodWe’re always a little bit troubled when we see senior management at a company selling their shares of stock in the company they continue to manage. Not long ago four top Carrizo Oil & Gas executive officers, including the CEO, dumped 50,000 shares of stock (see 4 Top Carrizo O&G Officers, Incl CEO, Sell 50K Shares of Company Stock). Not long after that, Carrizo’s CEO Chip Johnson dumped another 6,000 shares (see Carrizo CEO Chip Johnson Sells Another 6K Shares of Stock). Then there are some companies where senior management continues to buy shares of stock. One such company is Marcellus/Utica driller Rice Energy. In May, Rice Energy senior VP and CFO Grayson T. Lisenby bought 6,000 shares of Rice Energy Midstream (see Rice Energy CFO Buys Another 6K Shares of Rice Midstream Stock). We’ve just learned (albeit late) that another Rice Energy executive–James Rogers, senior VP and chief accounting & administrative officer–also purchased stock in Rice Energy Midstream in May…

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