Rafferty Asset Management LLC decreased its stake in shares of Range Resources Corporation (NYSE:RRC) by 33.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,427 shares of the oil and gas exploration company’s stock after selling 22,697 shares during the period. Rafferty Asset Management LLC’s holdings in Range Resources Corporation were worth $1,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Louisiana State Employees Retirement System increased its position in Range Resources Corporation by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock worth $271,000 after purchasing an additional 100 shares during the last quarter. Advantus Capital Management Inc increased its position in Range Resources Corporation by 1.0% during the first quarter. Advantus Capital Management Inc now owns 18,832 shares of the oil and gas exploration company’s stock worth $548,000 after purchasing an additional 185 shares during the last quarter. Mason Street Advisors LLC increased its position in Range Resources Corporation by 1.2% during the first quarter. Mason Street Advisors LLC now owns 25,995 shares of the oil and gas exploration company’s stock worth $756,000 after purchasing an additional 301 shares during the last quarter. Coe Capital Management LLC increased its position in Range Resources Corporation by 0.6% during the first quarter. Coe Capital Management LLC now owns 50,243 shares of the oil and gas exploration company’s stock worth $1,462,000 after purchasing an additional 305 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in Range Resources Corporation by 0.3% during the second quarter. Retirement Systems of Alabama now owns 91,236 shares of the oil and gas exploration company’s stock worth $2,114,000 after purchasing an additional 305 shares during the last quarter. 95.61% of the stock is owned by hedge funds and other institutional investors.

Shares of Range Resources Corporation (NYSE:RRC) opened at 18.92 on Monday. The firm has a market capitalization of $4.62 billion, a PE ratio of 127.84 and a beta of 0.94. Range Resources Corporation has a 12-month low of $16.00 and a 12-month high of $40.20. The company has a 50-day moving average of $17.82 and a 200 day moving average of $23.24.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. 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 payout ratio is 100.01%.

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In related news, Director Mary Ralph Lowe acquired 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the purchase, the director now owns 25,413 shares in the company, valued at approximately $457,179.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steffen E. Palko acquired 15,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the purchase, the director now owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 26,000 shares of company stock worth $449,800. 0.42% of the stock is currently owned by corporate insiders.

Several equities analysts recently commented on RRC shares. Goldman Sachs Group, Inc. (The) lowered shares of Range Resources Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $20.50 in a research report on Friday, September 8th. Citigroup Inc. dropped their price target on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Jefferies Group LLC set a $36.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, July 17th. Finally, BMO Capital Markets dropped their price target on shares of Range Resources Corporation from $35.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $36.22.

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.

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

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