CIBC Asset Management Inc increased its stake in shares of Range Resources Corporation (NYSE:RRC) by 10.2% during the second quarter, Holdings Channel reports. The firm owned 53,532 shares of the oil and gas exploration company’s stock after buying an additional 4,974 shares during the period. CIBC Asset Management Inc’s holdings in Range Resources Corporation were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its position in Range Resources Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 57,376 shares of the oil and gas exploration company’s stock valued at $1,669,000 after buying an additional 600 shares during the period. Bank of Montreal Can increased its position in Range Resources Corporation by 22.0% in the first quarter. Bank of Montreal Can now owns 417,333 shares of the oil and gas exploration company’s stock valued at $12,143,000 after buying an additional 75,348 shares during the period. Capstone Asset Management Co. increased its position in Range Resources Corporation by 1.1% in the first quarter. Capstone Asset Management Co. now owns 12,374 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 140 shares during the period. Skylands Capital LLC bought a new position in Range Resources Corporation during the first quarter valued at approximately $146,000. Finally, Fox Run Management L.L.C. bought a new position in Range Resources Corporation during the first quarter valued at approximately $381,000. 93.84% of the stock is owned by institutional investors and hedge funds.

Range Resources Corporation (NYSE:RRC) opened at 16.81 on Friday. The stock’s 50 day moving average is $20.98 and its 200-day moving average is $25.91. Range Resources Corporation has a 12 month low of $16.50 and a 12 month high of $43.60. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 113.58 and a beta of 0.92.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The company had revenue of $565 million for the quarter, compared to the consensus estimate of $544.08 million. During the same period in the prior year, the firm posted ($1.35) EPS. The company’s quarterly revenue was up 55.8% compared to the same quarter last year. On average, equities research analysts expect that Range Resources Corporation will post $0.54 earnings per share for the current year.

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Several research analysts have commented on RRC shares. Evercore ISI raised shares of Range Resources Corporation to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, April 19th. Barclays PLC reaffirmed a “sell” rating and issued a $26.00 price target (down previously from $29.00) on shares of Range Resources Corporation in a report on Thursday, April 20th. Scotiabank reaffirmed a “buy” rating and issued a $44.00 price target on shares of Range Resources Corporation in a report on Friday, April 21st. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Range Resources Corporation in a report on Tuesday, April 25th. Finally, KLR Group increased their price target on shares of Range Resources Corporation from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Range Resources Corporation presently has a consensus rating of “Buy” and an average target price of $40.14.

In other news, Director James M. Funk acquired 4,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $22.96 per share, with a total value of $91,840.00. Following the transaction, the director now owns 11,303 shares in the company, valued at approximately $259,516.88. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steffen E. Palko acquired 15,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the transaction, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 30,000 shares of company stock worth $541,640 and sold 36,521 shares worth $842,742. Corporate insiders own 2.40% of the company’s stock.

About Range Resources Corporation

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

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

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