Guggenheim Capital LLC decreased its holdings in shares of Range Resources Corp. (NYSE:RRC) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 974,944 shares of the oil and gas exploration company’s stock after selling 21,579 shares during the quarter. Guggenheim Capital LLC’s holdings in Range Resources were worth $4,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of RRC. Commonwealth Equity Services LLC bought a new stake in Range Resources during the 3rd quarter valued at $39,000. California Public Employees Retirement System increased its holdings in shares of Range Resources by 41.0% in the third quarter. California Public Employees Retirement System now owns 391,622 shares of the oil and gas exploration company’s stock worth $1,496,000 after purchasing an additional 113,856 shares during the period. State Street Corp increased its holdings in shares of Range Resources by 36.8% in the third quarter. State Street Corp now owns 17,398,629 shares of the oil and gas exploration company’s stock worth $66,463,000 after purchasing an additional 4,680,815 shares during the period. Virtu Financial LLC increased its holdings in shares of Range Resources by 1,382.1% in the third quarter. Virtu Financial LLC now owns 407,845 shares of the oil and gas exploration company’s stock worth $1,558,000 after purchasing an additional 380,327 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of Range Resources by 2.2% in the third quarter. California State Teachers Retirement System now owns 348,222 shares of the oil and gas exploration company’s stock worth $1,330,000 after purchasing an additional 7,511 shares during the period.
RRC opened at $2.52 on Thursday. The stock has a market cap of $776.88 million, a PE ratio of -0.36 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. Range Resources Corp. has a 52 week low of $1.61 and a 52 week high of $11.42. The business’s fifty day simple moving average is $2.87 and its 200 day simple moving average is $3.78.
Range Resources (NYSE:RRC) last released its earnings results on Thursday, February 27th. The oil and gas exploration company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.05. The business had revenue of $605.60 million for the quarter, compared to analysts’ expectations of $656.43 million. Range Resources had a positive return on equity of 2.65% and a negative net margin of 60.70%. The firm’s revenue was down 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, equities analysts anticipate that Range Resources Corp. will post -0.39 earnings per share for the current year.
In other news, Director Steffen E. Palko bought 903,128 shares of Range Resources stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average price of $2.20 per share, with a total value of $1,986,881.60. Following the completion of the purchase, the director now directly owns 1,000,000 shares in the company, valued at $2,200,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on RRC shares. Susquehanna Bancshares reaffirmed a “negative” rating and issued a $5.00 price target (down previously from $6.00) on shares of Range Resources in a report on Monday, January 13th. Royal Bank of Canada cut shares of Range Resources from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $6.00 to $2.00 in a report on Monday, March 16th. JPMorgan Chase & Co. cut shares of Range Resources from a “neutral” rating to an “underweight” rating in a report on Wednesday. Cowen cut shares of Range Resources from an “outperform” rating to a “market perform” rating and set a $2.00 price target on the stock. in a report on Wednesday, March 11th. Finally, MKM Partners decreased their price target on shares of Range Resources from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Range Resources currently has a consensus rating of “Hold” and an average target price of $5.47.
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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