Country Trust Bank bought a new stake in shares of Range Resources Corporation (NYSE:RRC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 622,500 shares of the oil and gas exploration company’s stock, valued at approximately $10,620,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RRC. Ameritas Investment Partners Inc. lifted its stake in shares of Range Resources by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after buying an additional 64 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. lifted its stake in shares of Range Resources by 166.2% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock valued at $141,000 after buying an additional 3,801 shares in the last quarter. Stephens Inc. AR lifted its stake in shares of Range Resources by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock valued at $179,000 after buying an additional 412 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Range Resources by 240.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock valued at $205,000 after buying an additional 6,250 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Range Resources by 18.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,938 shares of the oil and gas exploration company’s stock worth $207,000 after purchasing an additional 1,405 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

In related news, Director Anthony V. Dub sold 2,897 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total transaction of $46,525.82. Following the completion of the sale, the director now owns 96,000 shares of the company’s stock, valued at $1,541,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Roger S. Manny sold 10,757 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total transaction of $176,629.94. Following the sale, the chief financial officer now directly owns 143,703 shares of the company’s stock, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. Insiders sold a total of 44,574 shares of company stock valued at $729,007 in the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Shares of Range Resources Corporation (RRC) traded up $0.72 during mid-day trading on Thursday, reaching $17.51. 3,999,275 shares of the company’s stock were exchanged, compared to its average volume of 8,367,986. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47. The company has a market cap of $4,250.00, a P/E ratio of -83.36 and a beta of 0.91. Range Resources Corporation has a twelve month low of $15.33 and a twelve month high of $36.40.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The firm had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The company’s revenue was up 16.7% compared to the same quarter last year. analysts expect that Range Resources Corporation will post 0.44 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $0.02 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.46%. Range Resources’s payout ratio is presently -38.10%.

Several analysts have commented on RRC shares. Zacks Investment Research upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday, October 20th. Piper Jaffray Companies set a $35.00 target price on shares of Range Resources and gave the stock a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets set a $30.00 target price on shares of Range Resources and gave the stock a “buy” rating in a report on Tuesday, October 10th. Jefferies Group restated a “buy” rating and issued a $25.00 target price on shares of Range Resources in a report on Tuesday, October 10th. Finally, Scotiabank restated a “buy” rating and issued a $30.00 target price on shares of Range Resources in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.02.

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Range Resources 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.

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

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