Arizona State Retirement System raised its position in shares of Range Resources Corp. (NYSE:RRC) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,271 shares of the oil and gas exploration company’s stock after buying an additional 4,600 shares during the period. Arizona State Retirement System’s holdings in Range Resources Corp. were worth $1,793,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RRC. FMR LLC increased its stake in shares of Range Resources Corp. by 449.6% in the second quarter. FMR LLC now owns 4,634,388 shares of the oil and gas exploration company’s stock worth $199,928,000 after buying an additional 3,791,208 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Range Resources Corp. by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,410,311 shares of the oil and gas exploration company’s stock valued at $190,261,000 after buying an additional 44,179 shares during the period. BlackRock Fund Advisors boosted its position in Range Resources Corp. by 3.0% in the second quarter. BlackRock Fund Advisors now owns 3,053,906 shares of the oil and gas exploration company’s stock valued at $131,746,000 after buying an additional 87,524 shares during the period. Emerald Acquisition Ltd. purchased a new position in Range Resources Corp. during the second quarter valued at approximately $116,394,000. Finally, Blue Ridge Capital L.L.C. purchased a new position in Range Resources Corp. during the second quarter valued at approximately $106,556,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Range Resources Corp. (NYSE:RRC)

Shares of Range Resources Corp. (NYSE:RRC) traded down 3.27% on Wednesday, hitting $35.18. 8,806,904 shares of the stock traded hands. The firm’s 50 day moving average is $35.20 and its 200 day moving average is $39.66. The firm’s market capitalization is $8.58 billion. Range Resources Corp. has a 52 week low of $19.21 and a 52 week high of $46.96.

Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 25th. The oil and gas exploration company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.10. The firm earned $413 million during the quarter, compared to analysts’ expectations of $152.84 million. Range Resources Corp. had a negative net margin of 54.13% and a negative return on equity of 13.00%. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. On average, analysts expect that Range Resources Corp. will post ($0.19) EPS for the current fiscal year.

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Several research analysts have commented on the stock. BMO Capital Markets upgraded shares of Range Resources Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Thursday, November 17th. Goldman Sachs Group Inc. upgraded shares of Range Resources Corp. from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Monday, October 31st. Imperial Capital decreased their target price on shares of Range Resources Corp. from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Jefferies Group set a $50.00 target price on shares of Range Resources Corp. and gave the stock a “buy” rating in a research report on Tuesday, October 18th. Finally, JPMorgan Chase & Co. upgraded shares of Range Resources Corp. from a “neutral” rating to an “overweight” rating and set a $46.00 target price for the company in a research report on Friday, October 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $44.38.

In other news, Director Gregory Gene Maxwell acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The stock was purchased at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now owns 12,211 shares in the company, valued at $451,807. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. 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.

5 Day Chart for NYSE:RRC

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