Range Resources Corp. (RRC) Position Lessened by Swiss National Bank
Swiss National Bank reduced its position in shares of Range Resources Corp. (NYSE:RRC) by 45.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 433,900 shares of the oil and gas exploration company’s stock after selling 364,204 shares during the quarter. Swiss National Bank’s holdings in Range Resources were worth $7,259,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Range Resources by 0.5% in the 1st quarter. BlackRock Inc. now owns 15,626,478 shares of the oil and gas exploration company’s stock valued at $227,208,000 after purchasing an additional 83,040 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Range Resources by 162.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,983,323 shares of the oil and gas exploration company’s stock valued at $116,078,000 after purchasing an additional 4,942,378 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in Range Resources by 8.7% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 7,289,120 shares of the oil and gas exploration company’s stock valued at $105,984,000 after purchasing an additional 581,635 shares during the period. ANTIPODES PARTNERS Ltd lifted its holdings in shares of Range Resources by 54.6% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock worth $97,541,000 after acquiring an additional 2,058,057 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in shares of Range Resources by 3.1% during the 1st quarter. Guggenheim Capital LLC now owns 3,688,697 shares of the oil and gas exploration company’s stock worth $53,634,000 after acquiring an additional 109,276 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.
Shares of Range Resources stock opened at $14.95 on Friday. The stock has a market cap of $3.90 billion, a P/E ratio of 16.81, a PEG ratio of 1.38 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 0.73. Range Resources Corp. has a 12-month low of $11.93 and a 12-month high of $20.65.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, September 13th. Range Resources’s dividend payout ratio (DPR) is currently 13.79%.
A number of equities analysts have recently commented on RRC shares. Stifel Nicolaus started coverage on shares of Range Resources in a report on Wednesday, May 23rd. They set a “buy” rating and a $21.50 price objective for the company. Morgan Stanley raised their price objective on shares of Range Resources from $12.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, May 24th. Wolfe Research raised shares of Range Resources from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 27th. TD Securities started coverage on shares of Range Resources in a report on Thursday, July 5th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $27.00 price objective on shares of Range Resources in a report on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Range Resources currently has an average rating of “Hold” and an average target price of $21.98.
In related news, VP David P. Poole sold 3,829 shares of the stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $17.54, for a total transaction of $67,160.66. Following the completion of the sale, the vice president now owns 37,484 shares in the company, valued at approximately $657,469.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey L. Ventura sold 8,767 shares of the stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $17.54, for a total transaction of $153,773.18. Following the sale, the insider now owns 390,432 shares of the company’s stock, valued at approximately $6,848,177.28. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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