Stoneridge Investment Partners LLC Has $2.10 Million Position in Range Resources Corp. (RRC)

Stoneridge Investment Partners LLC lowered its holdings in Range Resources Corp. (NYSE:RRC) by 48.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,360 shares of the oil and gas exploration company’s stock after selling 116,809 shares during the period. Stoneridge Investment Partners LLC’s holdings in Range Resources were worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Oslo Asset Management AS lifted its stake in Range Resources by 9.1% in the third quarter. Oslo Asset Management AS now owns 1,599,600 shares of the oil and gas exploration company’s stock valued at $27,177,000 after acquiring an additional 133,200 shares during the last quarter. Mobius Capital Management LLC acquired a new stake in Range Resources in the third quarter valued at $1,414,000. James Investment Research Inc. acquired a new stake in Range Resources in the third quarter valued at $2,062,000. Russell Investments Group Ltd. lifted its stake in Range Resources by 29.2% in the third quarter. Russell Investments Group Ltd. now owns 2,380,486 shares of the oil and gas exploration company’s stock valued at $40,447,000 after acquiring an additional 538,109 shares during the last quarter. Finally, Palo Capital Inc. acquired a new stake in Range Resources in the third quarter valued at $198,000.

NYSE RRC opened at $15.85 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The stock has a market cap of $3.88 billion, a PE ratio of 27.33, a P/E/G ratio of 1.11 and a beta of 0.57. Range Resources Corp. has a 52-week low of $11.93 and a 52-week high of $19.38.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $811.20 million during the quarter, compared to analysts’ expectations of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. Range Resources’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 EPS. As a group, equities research analysts expect that Range Resources Corp. will post 1.03 earnings per share for the current year.

RRC has been the subject of a number of recent analyst reports. TD Securities initiated coverage on shares of Range Resources in a research note on Thursday, July 5th. They issued a “hold” rating and a $18.00 price target for the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $27.00 price target on shares of Range Resources in a research note on Friday, July 20th. Capital One Financial upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. Morgan Stanley cut their price target on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, August 16th. Finally, KLR Group reiterated a “buy” rating and issued a $23.00 price target on shares of Range Resources in a research note on Monday, August 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. Range Resources presently has an average rating of “Hold” and a consensus price target of $22.55.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

Further Reading: Initial Public Offering (IPO)

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corp. (NYSE:RRC).

Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply