Investec Asset Management LTD decreased 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 SEC. The firm owned 9,388,965 shares of the oil and gas exploration company’s stock after selling 83,044 shares during the quarter. Investec Asset Management LTD owned about 3.73% of Range Resources worth $65,535,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. World Asset Management Inc bought a new stake in shares of Range Resources in the first quarter valued at approximately $155,000. Jennison Associates LLC raised its stake in shares of Range Resources by 0.4% in the first quarter. Jennison Associates LLC now owns 1,107,832 shares of the oil and gas exploration company’s stock valued at $12,452,000 after purchasing an additional 4,214 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Range Resources by 9.9% in the first quarter. Trexquant Investment LP now owns 415,033 shares of the oil and gas exploration company’s stock valued at $4,665,000 after purchasing an additional 37,283 shares in the last quarter. B. Riley Wealth Management Inc. acquired a new position in Range Resources during the first quarter worth $129,000. Finally, Deltec Asset Management LLC raised its stake in Range Resources by 30.3% during the first quarter. Deltec Asset Management LLC now owns 475,700 shares of the oil and gas exploration company’s stock worth $5,347,000 after acquiring an additional 110,500 shares in the last quarter.
Several research firms have issued reports on RRC. Susquehanna Bancshares dropped their price objective on Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research note on Monday, July 29th. Jefferies Financial Group lowered Range Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $7.00 in a research note on Monday, July 15th. Guggenheim lowered Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, April 25th. TD Securities lowered their target price on Range Resources from $7.50 to $5.50 and set a “hold” rating for the company in a research note on Friday, July 26th. Finally, Zacks Investment Research lowered Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.53.In other news, CFO Mark Scucchi purchased 12,955 shares of Range Resources stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $4.36 per share, for a total transaction of $56,483.80. Following the purchase, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at approximately $61,689.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David P. Poole sold 5,843 shares of the business’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 $331,135.24. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Shares of NYSE RRC traded up $0.07 during mid-day trading on Friday, reaching $4.10. 10,994,100 shares of the company’s stock were exchanged, compared to its average volume of 13,505,162. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.63, a PEG ratio of 2.71 and a beta of 0.94. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $5.43 and a 200 day simple moving average of $8.47. Range Resources Corp. has a twelve month low of $3.76 and a twelve month high of $18.59.
Range Resources (NYSE:RRC) last announced its earnings results 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 positive return on equity of 4.66% and a negative net margin of 45.91%. The business had revenue of $851.43 million for the quarter, compared to analyst estimates of $672.93 million. During the same quarter last year, the firm earned $0.20 EPS. Range Resources’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts predict that Range Resources Corp. will post 0.44 earnings per share for the current fiscal year.
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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