Lingotto Investment Management LLP Purchases 138,877 Shares of Range Resources Corporation $RRC

Lingotto Investment Management LLP raised its position in shares of Range Resources Corporation (NYSE:RRC) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,161,614 shares of the oil and gas exploration company’s stock after purchasing an additional 138,877 shares during the quarter. Range Resources accounts for 6.2% of Lingotto Investment Management LLP’s investment portfolio, making the stock its 4th biggest holding. Lingotto Investment Management LLP owned about 3.01% of Range Resources worth $291,263,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Range Resources by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,555 shares of the oil and gas exploration company’s stock valued at $661,000 after buying an additional 958 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Range Resources by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company’s stock valued at $85,899,000 after acquiring an additional 38,648 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in Range Resources in the first quarter worth approximately $6,361,000. Telemark Asset Management LLC increased its stake in shares of Range Resources by 75.0% during the 1st quarter. Telemark Asset Management LLC now owns 700,000 shares of the oil and gas exploration company’s stock worth $27,951,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Range Resources by 64.7% during the 1st quarter. Citigroup Inc. now owns 244,326 shares of the oil and gas exploration company’s stock valued at $9,756,000 after purchasing an additional 95,978 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $39.66 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The business’s fifty day moving average price is $37.75 and its two-hundred day moving average price is $37.33. Range Resources Corporation has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.31 and a beta of 0.47.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $655.30 million for the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.Range Resources’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. As a group, analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 12th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 12th. Range Resources’s payout ratio is currently 15.13%.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Range Resources from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Barclays raised Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Morgan Stanley dropped their price target on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. UBS Group decreased their price objective on shares of Range Resources from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Finally, Royal Bank Of Canada raised their target price on shares of Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.85.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.