Morningstar Investment Services LLC lowered its stake in shares of Range Resources Corp. (NYSE:RRC) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 247,122 shares of the oil and gas exploration company’s stock after selling 2,704 shares during the quarter. Morningstar Investment Services LLC owned approximately 0.10% of Range Resources worth $1,725,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Quadrant Capital Group LLC boosted its position in shares of Range Resources by 667.8% during the first quarter. Quadrant Capital Group LLC now owns 2,242 shares of the oil and gas exploration company’s stock worth $25,000 after purchasing an additional 1,950 shares in the last quarter. Machina Capital S.A.S. bought a new stake in shares of Range Resources during the 2nd quarter valued at $46,000. Reilly Financial Advisors LLC acquired a new stake in shares of Range Resources during the 2nd quarter worth $70,000. M&T Bank Corp acquired a new stake in shares of Range Resources during the 2nd quarter worth $69,000. Finally, MML Investors Services LLC bought a new position in shares of Range Resources in the second quarter worth $76,000.
A number of research firms recently commented on RRC. Citigroup dropped their price target on Range Resources from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group cut Range Resources from a “buy” rating to a “hold” rating and cut their target price for the stock from $17.00 to $7.00 in a research note on Monday, July 15th. Susquehanna Bancshares cut their target price 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. MKM Partners raised Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, August 19th. Finally, TD Securities decreased their price target on Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a research note 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. Range Resources presently has a consensus rating of “Hold” and an average target price of $13.01.
In other Range Resources news, VP David P. Poole sold 5,843 shares of the 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 transaction, the vice president now owns 58,196 shares in the company, valued at $331,135.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret K. Dorman bought 20,500 shares of Range Resources stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $3.40 per share, with a total value of $69,700.00. Following the purchase, the director now directly owns 57,233 shares of the company’s stock, valued at $194,592.20. The disclosure for this purchase can be found here. Insiders purchased a total of 42,938 shares of company stock worth $176,159 over the last 90 days. 0.35% of the stock is currently owned by company insiders.
RRC stock traded up $0.22 during midday trading on Wednesday, reaching $4.73. 636,207 shares of the company’s stock traded hands, compared to its average volume of 11,258,906. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average price is $4.34 and its 200-day moving average price is $7.67. Range Resources Corp. has a 52 week low of $3.36 and a 52 week high of $18.59. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 4.15, a P/E/G ratio of 3.77 and a beta of 1.03.
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. Analysts forecast that Range Resources Corp. will post 0.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 12th. Range Resources’s dividend payout ratio is currently 7.08%.
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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