Los Angeles Capital Management & Equity Research Inc. acquired a new position in Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent filing with the SEC. The firm acquired 25,284 shares of the oil and gas exploration company’s stock, valued at approximately $586,000.

Other hedge funds have also modified their holdings of the company. Smithfield Trust Co. grew its position in shares of Range Resources Corporation by 480.0% in the 2nd quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 3,840 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Range Resources Corporation by 26.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock worth $110,000 after buying an additional 990 shares during the last quarter. Financial Architects Inc grew its position in shares of Range Resources Corporation by 24.5% in the 2nd quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 1,200 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Range Resources Corporation by 886.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,001 shares of the oil and gas exploration company’s stock worth $145,000 after buying an additional 4,494 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Range Resources Corporation by 47.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,445 shares of the oil and gas exploration company’s stock worth $188,000 after buying an additional 2,071 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

A number of brokerages have recently weighed in on RRC. Wolfe Research lowered Range Resources Corporation from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $23.00 to $19.00 in a research report on Wednesday. Zacks Investment Research lowered Range Resources Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Piper Jaffray Companies cut their price objective on Range Resources Corporation from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price objective on shares of Range Resources Corporation in a research report on Thursday, September 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 price objective on shares of Range Resources Corporation in a research report on Friday, September 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $36.22.

Range Resources Corporation (RRC) opened at 18.92 on Friday. The stock has a market cap of $4.62 billion, a PE ratio of 127.84 and a beta of 0.94. The stock has a 50 day moving average price of $17.82 and a 200 day moving average price of $23.24. Range Resources Corporation has a 1-year low of $16.00 and a 1-year high of $40.20.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. During the same quarter in the prior year, the business posted ($1.35) EPS. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. On average, analysts predict that Range Resources Corporation will post $0.50 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.42%. Range Resources Corporation’s dividend payout ratio is presently 100.01%.

In other Range Resources Corporation news, Director Mary Ralph Lowe acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the acquisition, the director now owns 25,413 shares in the company, valued at approximately $457,179.87. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steffen E. Palko acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $16.81 per share, with a total value of $252,150.00. Following the acquisition, 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. In the last quarter, insiders have bought 26,000 shares of company stock valued at $449,800. Company insiders own 2.40% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This story was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/09/24/los-angeles-capital-management-equity-research-inc-acquires-shares-of-25284-range-resources-corporation-rrc.html.

Range Resources Corporation Profile

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.

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC).

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

Receive News & Ratings for Range Resources Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources Corporation and related companies with MarketBeat.com's FREE daily email newsletter.