Swiss National Bank reduced its position in shares of Range Resources Corp. (NYSE:RRC) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 798,104 shares of the oil and gas exploration company’s stock after selling 110,200 shares during the period. Swiss National Bank owned approximately 0.32% of Range Resources worth $11,604,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Range Resources by 979.0% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 212,599 shares of the oil and gas exploration company’s stock valued at $3,626,000 after buying an additional 192,895 shares in the last quarter. Cerebellum GP LLC purchased a new position in Range Resources in the fourth quarter valued at about $1,683,000. Mutual of America Capital Management LLC increased its holdings in Range Resources by 19.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 416,146 shares of the oil and gas exploration company’s stock valued at $7,099,000 after buying an additional 68,098 shares in the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in Range Resources in the fourth quarter valued at about $854,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Range Resources by 58.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 36,635 shares of the oil and gas exploration company’s stock valued at $625,000 after buying an additional 13,500 shares in the last quarter. 96.04% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Seaport Global Securities cut shares of Range Resources from a “buy” rating to a “neutral” rating in a report on Tuesday, April 24th. ValuEngine cut shares of Range Resources from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Morgan Stanley increased their target price on shares of Range Resources from $12.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, May 24th. Stifel Nicolaus began coverage on shares of Range Resources in a research note on Wednesday, May 23rd. They set a “buy” rating and a $21.50 price objective for the company. Finally, Sanford C. Bernstein cut shares of Range Resources from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a research note on Monday, March 26th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Range Resources has a consensus rating of “Hold” and an average price target of $22.28.
Shares of Range Resources traded down $0.47, reaching $16.15, during mid-day trading on Thursday, according to Marketbeat. The company had a trading volume of 7,027,100 shares, compared to its average volume of 8,354,732. The firm has a market cap of $4.04 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60. Range Resources Corp. has a fifty-two week low of $11.93 and a fifty-two week high of $23.84. The company has a quick ratio of 0.45, a current ratio of 0.50 and a debt-to-equity ratio of 0.70.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Wednesday, April 25th. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.09. The company had revenue of $742.60 million for the quarter, compared to analyst estimates of $725.60 million. Range Resources had a net margin of 8.24% and a return on equity of 4.36%. Range Resources’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. equities research analysts anticipate that Range Resources Corp. will post 0.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.50%. Range Resources’s dividend payout ratio (DPR) is presently 13.79%.
About Range Resources
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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