5,963 Shares in Range Resources Corp. (RRC) Acquired by ING Groep NV
ING Groep NV acquired a new position in shares of Range Resources Corp. (NYSE:RRC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,963 shares of the oil and gas exploration company’s stock, valued at approximately $257,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of RRC. British Airways Pensions Investment Management Ltd acquired a new position in Range Resources Corp. during the second quarter worth approximately $23,916,000. Bank of Montreal Can acquired a new position in Range Resources Corp. during the second quarter worth approximately $23,563,000. Phocas Financial Corp. acquired a new position in Range Resources Corp. during the first quarter worth approximately $7,610,000. TIAA CREF Investment Management LLC boosted its position in Range Resources Corp. by 21.7% in the first quarter. TIAA CREF Investment Management LLC now owns 800,365 shares of the oil and gas exploration company’s stock worth $25,916,000 after buying an additional 142,956 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Range Resources Corp. during the second quarter worth approximately $5,574,000.
Range Resources Corp. (NYSE:RRC) traded up 3.60% during mid-day trading on Thursday, reaching $39.41. The company had a trading volume of 6,724,534 shares. Range Resources Corp. has a 12 month low of $19.21 and a 12 month high of $46.96. The company’s market capitalization is $6.57 billion. The firm’s 50 day moving average price is $39.33 and its 200-day moving average price is $40.36.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. The firm had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. Equities research analysts anticipate that Range Resources Corp. will post ($0.20) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.20%. The ex-dividend date was Wednesday, September 14th. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.42%.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised Range Resources Corp. from a “neutral” rating to an “overweight” rating and set a $46.00 price target on the stock in a report on Friday, October 7th. Vetr cut Range Resources Corp. from a “strong-buy” rating to a “buy” rating and set a $43.75 price target on the stock. in a report on Monday, October 3rd. Nomura reissued a “hold” rating and issued a $45.00 price target on shares of Range Resources Corp. in a report on Monday, October 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $52.00 price target on shares of Range Resources Corp. in a report on Friday, September 30th. Finally, GMP Securities assumed coverage on Range Resources Corp. in a report on Wednesday, September 28th. They issued a “buy” rating and a $47.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $44.31.
In related news, COO Ray N. Walker, Jr. sold 13,350 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $37.53, for a total value of $501,025.50. Following the transaction, the chief operating officer now owns 42,598 shares in the company, valued at approximately $1,598,702.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Gene Maxwell purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was bought at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now directly owns 12,211 shares in the company, valued at $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is owned by corporate insiders.
About Range Resources Corp.
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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