Seven Bridges Advisors LLC Purchases Shares of 4,897 Range Resources Corp. (RRC)
Seven Bridges Advisors LLC purchased a new position in Range Resources Corp. (NYSE:RRC) during the second quarter, Holdings Channel reports. The firm purchased 4,897 shares of the oil and gas exploration company’s stock, valued at approximately $211,000.
A number of other institutional investors have also added to or reduced their stakes in RRC. AXA raised its position 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 in the last quarter. Cypress Asset Management Inc. TX purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $204,000. Gilman Hill Asset Management LLC purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $236,000. BlueMountain Capital Management LLC purchased a new stake in shares of Range Resources Corp. during the first quarter worth about $178,000. Finally, Kessler Investment Group LLC purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $239,000.
Shares of Range Resources Corp. (NYSE:RRC) traded up 4.59% during trading on Wednesday, hitting $38.26. 8,387,372 shares of the company were exchanged. The company has a 50 day moving average of $39.82 and a 200-day moving average of $39.69. Range Resources Corp. has a 1-year low of $19.21 and a 1-year high of $46.96. The stock’s market capitalization is $6.38 billion.
Range Resources Corp. (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The company had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same period last year, the firm posted $0.01 earnings per share. Range Resources Corp.’s revenue was down 10.4% compared to the same quarter last year. On average, analysts forecast that Range Resources Corp. will post ($0.26) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.42%.
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Range Resources Corp. in a research note on Sunday, July 17th. BMO Capital Markets restated a “market perform” rating and issued a $44.00 price target on shares of Range Resources Corp. in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Tuesday, July 12th. Vetr upgraded shares of Range Resources Corp. from a “sell” rating to a “hold” rating and set a $40.37 price target on the stock in a research note on Thursday, May 26th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Range Resources Corp. in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Range Resources Corp. presently has an average rating of “Buy” and an average target price of $44.28.
In related news, COO Ray N. Walker, Jr. sold 13,350 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $37.53, for a total transaction of $501,025.50. Following the sale, the chief operating officer now directly owns 42,598 shares of the company’s stock, valued at $1,598,702.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate 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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