Squarepoint Ops LLC increased its stake in shares of Range Resources Corp. (NYSE:RRC) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,446 shares of the oil and gas exploration company’s stock after purchasing an additional 69,254 shares during the quarter. Squarepoint Ops LLC owned approximately 0.16% of Range Resources worth $1,518,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its stake in shares of Range Resources by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 151,291 shares of the oil and gas exploration company’s stock valued at $1,056,000 after acquiring an additional 2,197 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Range Resources by 17.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 17,385 shares of the oil and gas exploration company’s stock worth $121,000 after purchasing an additional 2,560 shares in the last quarter. Requisite Capital Management LLC increased its holdings in Range Resources by 1.1% in the 2nd quarter. Requisite Capital Management LLC now owns 299,591 shares of the oil and gas exploration company’s stock worth $2,091,000 after purchasing an additional 3,277 shares in the last quarter. World Asset Management Inc raised its position in Range Resources by 23.2% in the third quarter. World Asset Management Inc now owns 18,085 shares of the oil and gas exploration company’s stock valued at $69,000 after purchasing an additional 3,407 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Range Resources by 1.5% in the second quarter. BNP Paribas Arbitrage SA now owns 258,610 shares of the oil and gas exploration company’s stock valued at $1,805,000 after purchasing an additional 3,728 shares during the last quarter.
RRC has been the topic of a number of recent research reports. Scotiabank lowered Range Resources from an “outperform” rating to a “sector perform” rating and set a $5.00 price target on the stock. in a research note on Friday. TD Securities lowered their price objective on Range Resources from $4.00 to $3.75 and set a “hold” rating for the company in a research note on Friday, October 25th. Credit Suisse Group lowered shares of Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Citigroup dropped their price objective on shares of Range Resources from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Finally, MKM Partners upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $9.67.
Shares of RRC opened at $4.06 on Tuesday. Range Resources Corp. has a 1 year low of $3.26 and a 1 year high of $14.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.69. The company has a market capitalization of $968.01 million, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 4.05 and a beta of 0.99. The business has a 50-day moving average of $3.99 and a 200-day moving average of $4.97.
Range Resources (NYSE:RRC) last announced its earnings results on Wednesday, October 23rd. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. The business had revenue of $622.45 million for the quarter, compared to analysts’ expectations of $594.94 million. Range Resources had a positive return on equity of 3.14% and a negative net margin of 50.85%. The firm’s revenue was down 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. As a group, sell-side analysts anticipate that Range Resources Corp. will post 0.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.08 annualized dividend and a yield of 1.97%. Range Resources’s payout ratio is 7.08%.
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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