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Investec Asset Management North America Inc. Buys 184,251 Shares of Range Resources Corp. (NYSE:RRC)

By August 19, 2019 No Comments

Investec Asset Management North America Inc. lifted its position in shares of Range Resources Corp. (NYSE:RRC) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,625,960 shares of the oil and gas exploration company’s stock after purchasing an additional 184,251 shares during the period. Investec Asset Management North America Inc. owned 0.65% of Range Resources worth $11,349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Range Resources by 2.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 51,367 shares of the oil and gas exploration company’s stock worth $577,000 after acquiring an additional 1,367 shares during the period. GAM Holding AG lifted its stake in Range Resources by 1.8% in the 1st quarter. GAM Holding AG now owns 94,200 shares of the oil and gas exploration company’s stock valued at $1,059,000 after purchasing an additional 1,700 shares during the last quarter. Retirement Systems of Alabama lifted its stake in Range Resources by 0.7% in the 1st quarter. Retirement Systems of Alabama now owns 270,288 shares of the oil and gas exploration company’s stock valued at $3,038,000 after purchasing an additional 1,785 shares during the last quarter. Mason Street Advisors LLC lifted its stake in Range Resources by 1.8% in the 1st quarter. Mason Street Advisors LLC now owns 110,414 shares of the oil and gas exploration company’s stock valued at $1,241,000 after purchasing an additional 1,940 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in Range Resources by 0.6% in the 1st quarter. California State Teachers Retirement System now owns 342,638 shares of the oil and gas exploration company’s stock valued at $3,851,000 after purchasing an additional 1,944 shares during the last quarter.

In related news, VP David P. Poole sold 5,843 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $5.69, for a total transaction of $33,246.67. Following the completion of the sale, the vice president now owns 58,196 shares in the company, valued at $331,135.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Scucchi acquired 12,955 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $4.36 per share, with a total value of $56,483.80. Following the acquisition, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at approximately $61,689.64. The disclosure for this purchase can be found here. 0.35% of the stock is owned by company insiders.

NYSE:RRC traded up $0.07 during trading hours on Friday, reaching $4.10. The company had a trading volume of 10,994,100 shares, compared to its average volume of 13,849,326. Range Resources Corp. has a twelve month low of $3.76 and a twelve month high of $18.59. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 3.63, a P/E/G ratio of 2.79 and a beta of 0.94. The business’s 50-day simple moving average is $5.43 and its two-hundred day simple moving average is $8.47. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 0.91.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $851.43 million for the quarter, compared to analyst estimates of $672.93 million. During the same period last year, the firm earned $0.20 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, equities analysts predict that Range Resources Corp. will post 0.44 earnings per share for the current year.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. 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 dropped their price objective for the company from $17.00 to $7.00 in a research note on Monday, July 15th. Citigroup decreased their price target on shares of Range Resources from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley set a $4.00 price target on shares of Range Resources and gave the company a “sell” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Range Resources currently has an average rating of “Hold” and a consensus price target of $14.53.

About Range Resources

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

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