Advisors Asset Management Inc. lessened its stake in Range Resources Corp. (NYSE:RRC) by 14.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 31,820 shares of the oil and gas exploration company’s stock after selling 5,384 shares during the quarter. Advisors Asset Management Inc.’s holdings in Range Resources were worth $532,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in RRC. St. Johns Investment Management Company LLC purchased a new position in Range Resources in the 2nd quarter worth approximately $100,000. Engineers Gate Manager LP purchased a new position in Range Resources in the 2nd quarter worth approximately $207,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Range Resources in the 2nd quarter worth approximately $212,000. BlueMountain Capital Management LLC purchased a new position in Range Resources in the 2nd quarter worth approximately $223,000. Finally, Rampart Investment Management Company LLC grew its stake in Range Resources by 178.5% in the 2nd quarter. Rampart Investment Management Company LLC now owns 15,100 shares of the oil and gas exploration company’s stock worth $253,000 after buying an additional 9,679 shares in the last quarter.
A number of equities analysts have commented on the stock. Piper Jaffray Companies reissued a “buy” rating and issued a $27.00 price target on shares of Range Resources in a research note on Friday, July 20th. Morgan Stanley set a $18.00 price target on shares of Range Resources and gave the stock a “sell” rating in a research note on Friday, October 12th. Macquarie set a $18.00 price target on shares of Range Resources and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Guggenheim reissued a “buy” rating and issued a $22.00 price target on shares of Range Resources in a research note on Wednesday, October 24th. Finally, TD Securities cut their price target on shares of Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.55.
Shares of RRC opened at $17.39 on Wednesday. The company has a market capitalization of $4.09 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53. Range Resources Corp. has a fifty-two week low of $11.93 and a fifty-two week high of $19.38.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The firm had revenue of $811.20 million during the quarter, compared to analyst estimates of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The business’s quarterly revenue was up 68.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. Equities research analysts expect that Range Resources Corp. will post 1.04 earnings per share for the current year.
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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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