Investec Asset Management LTD trimmed its position in shares of Range Resources Corp. (NYSE:RRC) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,388,965 shares of the oil and gas exploration company’s stock after selling 83,044 shares during the period. Investec Asset Management LTD owned about 3.73% of Range Resources worth $65,535,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Investec Asset Management North America Inc. boosted its position in shares of Range Resources by 12.8% during the 2nd quarter. Investec Asset Management North America Inc. now owns 1,625,960 shares of the oil and gas exploration company’s stock worth $11,349,000 after acquiring an additional 184,251 shares in the last quarter. Shah Capital Management acquired a new stake in Range Resources in the second quarter valued at approximately $1,903,000. Hapanowicz & Associates Financial Services Inc acquired a new stake in Range Resources in the second quarter valued at approximately $102,000. Systematic Financial Management LP acquired a new stake in Range Resources in the second quarter valued at approximately $921,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Range Resources during the second quarter valued at $113,000.
Several equities analysts have recently issued reports on the stock. Susquehanna Bancshares dropped their price target on shares of Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research note on Monday, July 29th. Guggenheim downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, April 25th. Jefferies Financial Group downgraded shares of Range Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $7.00 in a research note on Monday, July 15th. Zacks Investment Research cut shares of Range Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, TD Securities lowered their price objective on shares of Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.53.RRC stock traded up $0.07 during midday trading on Friday, reaching $4.10. The company had a trading volume of 10,994,100 shares, compared to its average volume of 13,505,162. Range Resources Corp. has a 1 year low of $3.76 and a 1 year high of $18.59. The company has a market capitalization of $1.01 billion, a P/E ratio of 3.63, a P/E/G ratio of 2.71 and a beta of 0.94. The firm has a 50-day moving average price of $5.43 and a 200-day moving average price of $8.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. Range Resources had a negative net margin of 45.91% and a positive return on equity of 4.66%. The company had revenue of $851.43 million during the quarter, compared to analysts’ expectations of $672.93 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s revenue was up 29.8% on a year-over-year basis. On average, equities analysts predict that Range Resources Corp. will post 0.44 EPS for the current year.
In other news, VP David P. Poole sold 5,843 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $5.69, for a total value of $33,246.67. Following the completion of the sale, the vice president now owns 58,196 shares of the company’s stock, valued at approximately $331,135.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Scucchi purchased 12,955 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $4.36 per share, with a total value of $56,483.80. Following the transaction, the chief financial officer now directly owns 14,149 shares in the company, valued at $61,689.64. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.
Range Resources 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.
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