Barings LLC continued to hold its position in Range Resources Corp. (NYSE:RRC) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,398 shares of the oil and gas exploration company’s stock at the end of the 2nd quarter. Barings LLC’s holdings in Range Resources Corp. were worth $244,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in RRC. UBS Asset Management Americas Inc. boosted its holdings in Range Resources Corp. by 11.7% during the first quarter. UBS Asset Management Americas Inc. now owns 482,393 shares of the oil and gas exploration company’s stock valued at $14,038,000 after acquiring an additional 50,440 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Range Resources Corp. by 886.4% during the first quarter. Ameritas Investment Partners Inc. now owns 5,001 shares of the oil and gas exploration company’s stock valued at $145,000 after acquiring an additional 4,494 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Range Resources Corp. by 47.3% during the first quarter. Envestnet Asset Management Inc. now owns 6,445 shares of the oil and gas exploration company’s stock valued at $188,000 after acquiring an additional 2,071 shares during the period. OppenheimerFunds Inc. boosted its holdings in Range Resources Corp. by 458.8% during the first quarter. OppenheimerFunds Inc. now owns 89,244 shares of the oil and gas exploration company’s stock valued at $2,597,000 after acquiring an additional 73,272 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in Range Resources Corp. by 6.4% during the first quarter. Teachers Advisors LLC now owns 272,621 shares of the oil and gas exploration company’s stock valued at $7,933,000 after acquiring an additional 16,281 shares during the period. Institutional investors own 95.19% of the company’s stock.
Range Resources Corp. (NYSE RRC) opened at 19.00 on Friday. Range Resources Corp. has a 52-week low of $16.00 and a 52-week high of $39.64. The company has a 50-day moving average of $19.06 and a 200 day moving average of $22.02. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 128.38 and a beta of 0.95.
Range Resources Corp. (NYSE:RRC) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.20. The firm had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corp. had a net margin of 12.38% and a return on equity of 4.91%. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.35) EPS. On average, equities research analysts anticipate that Range Resources Corp. will post $0.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Thursday, September 14th. Range Resources Corp.’s dividend payout ratio is currently 100.01%.
RRC has been the subject of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) cut shares of Range Resources Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $20.50 in a report on Friday, September 8th. Citigroup Inc. decreased their price target on shares of Range Resources Corp. from $42.00 to $34.00 and set a “buy” rating for the company in a report on Friday, July 21st. Jefferies Group LLC set a $36.00 price target on shares of Range Resources Corp. and gave the company a “buy” rating in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Monday, July 17th. Finally, BMO Capital Markets decreased their price target on shares of Range Resources Corp. from $35.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.89.
In other news, Director Steffen E. Palko purchased 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $16.81 per share, with a total value of $252,150.00. Following the acquisition, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Ralph Lowe purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $17.99 per share, with a total value of $179,900.00. Following the acquisition, the director now owns 25,413 shares in the company, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Insiders acquired a total of 26,000 shares of company stock valued at $449,800 in the last three months. Insiders own 2.40% of the company’s stock.
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Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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