552,200 Shares in Range Resources Corp. (RRC) Acquired by British Airways Pensions Investment Management Ltd
British Airways Pensions Investment Management Ltd bought a new position in Range Resources Corp. (NYSE:RRC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 552,200 shares of the oil and gas exploration company’s stock, valued at approximately $23,916,000.
Several other large investors have also recently added to or reduced their stakes in the company. AXA increased its stake in Range Resources Corp. by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 653 shares during the last quarter. Cypress Asset Management Inc. TX purchased a new stake in Range Resources Corp. during the second quarter worth $204,000. Seven Bridges Advisors LLC purchased a new stake in Range Resources Corp. during the second quarter worth $211,000. Gilman Hill Asset Management LLC purchased a new stake in Range Resources Corp. during the second quarter worth $236,000. Finally, BlueMountain Capital Management LLC purchased a new stake in Range Resources Corp. during the first quarter worth $178,000.
Range Resources Corp. (NYSE:RRC) traded up 4.59% during trading on Wednesday, reaching $38.26. The company’s stock had a trading volume of 8,387,372 shares. The company’s market cap is $6.38 billion. The stock’s 50 day moving average is $39.82 and its 200 day moving average is $39.69. Range Resources Corp. has a 12 month low of $19.21 and a 12 month high of $46.96.
Range Resources Corp. (NYSE:RRC) last issued its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The business had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities analysts expect that Range Resources Corp. will post ($0.26) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.21%. Range Resources Corp.’s payout ratio is -1.42%.
RRC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Range Resources Corp. in a report on Sunday, July 17th. BMO Capital Markets reiterated a “market perform” rating and issued a $44.00 price objective on shares of Range Resources Corp. in a report on Wednesday, July 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded Range Resources Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 12th. Vetr upgraded Range Resources Corp. from a “sell” rating to a “hold” rating and set a $40.37 price objective for the company in a report on Thursday, May 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Range Resources Corp. in a report on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Range Resources Corp. currently has a consensus rating of “Buy” and a consensus price target of $44.28.
In other Range Resources Corp. news, COO Ray N. Walker, Jr. sold 13,350 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $37.53, for a total transaction of $501,025.50. Following the sale, the chief operating officer now owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.
Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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