Vanguard Group Inc. cut its holdings in shares of Range Resources Corp. (NYSE:RRC) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,658,115 shares of the oil and gas exploration company’s stock after selling 30,025 shares during the period. Vanguard Group Inc. owned about 8.68% of Range Resources worth $367,972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RRC. DekaBank Deutsche Girozentrale grew its position in Range Resources by 265.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 6,660 shares of the oil and gas exploration company’s stock worth $110,000 after acquiring an additional 4,840 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in Range Resources by 94.9% during the 3rd quarter. Penserra Capital Management LLC now owns 9,860 shares of the oil and gas exploration company’s stock worth $166,000 after buying an additional 4,800 shares in the last quarter. Caxton Associates LP acquired a new position in Range Resources during the 3rd quarter worth $195,000. Palo Capital Inc. acquired a new position in Range Resources during the 3rd quarter worth $198,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Range Resources by 47.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock worth $199,000 after buying an additional 3,750 shares in the last quarter.

Several research analysts have issued reports on the company. B. Riley set a $21.00 price objective on Range Resources and gave the stock a “buy” rating in a report on Friday, December 21st. Guggenheim reaffirmed a “buy” rating and set a $22.00 price objective on shares of Range Resources in a report on Wednesday, October 24th. MKM Partners assumed coverage on Range Resources in a report on Wednesday, December 5th. They set a “neutral” rating and a $17.00 price objective on the stock. BMO Capital Markets downgraded Range Resources from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Stephens assumed coverage on Range Resources in a report on Thursday, December 6th. They set an “equal weight” rating and a $21.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.21.

RRC stock opened at $11.44 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.53 and a current ratio of 0.56. The firm has a market capitalization of $2.67 billion, a PE ratio of 19.72, a P/E/G ratio of 0.73 and a beta of 0.96. Range Resources Corp. has a twelve month low of $9.22 and a twelve month high of $18.59.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The company had revenue of $811.20 million for the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 EPS. On average, analysts expect that Range Resources Corp. will post 0.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, December 13th. Range Resources’s payout ratio is presently 13.79%.

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Range Resources 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.

See Also: Fundamental Analysis and Individual Investors

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

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