Nisa Investment Advisors LLC lowered its stake in shares of Range Resources Corporation (NYSE:RRC) by 51.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,529 shares of the oil and gas exploration company’s stock after selling 10,040 shares during the period. Nisa Investment Advisors LLC’s holdings in Range Resources Corporation were worth $277,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. DnB Asset Management AS increased its position in shares of Range Resources Corporation by 31.9% in the first quarter. DnB Asset Management AS now owns 19,420 shares of the oil and gas exploration company’s stock valued at $565,000 after buying an additional 4,700 shares during the period. Harvey Capital Management Inc. bought a new position in shares of Range Resources Corporation during the first quarter valued at approximately $1,492,000. Fox Run Management L.L.C. bought a new position in shares of Range Resources Corporation during the first quarter valued at approximately $381,000. Skylands Capital LLC bought a new position in shares of Range Resources Corporation during the first quarter valued at approximately $146,000. Finally, Amarillo National Bank bought a new stake in shares of Range Resources Corporation during the first quarter valued at about $246,000. Institutional investors own 92.85% of the company’s stock.
Range Resources Corporation (RRC) traded up 1.21% on Friday, hitting $23.38. The company had a trading volume of 6,216,232 shares. Range Resources Corporation has a 12-month low of $21.84 and a 12-month high of $46.96. The firm’s market capitalization is $5.69 billion. The firm has a 50-day moving average price of $24.39 and a 200-day moving average price of $29.71.
Range Resources Corporation (NYSE:RRC) last announced its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.06. Range Resources Corporation had a negative return on equity of 1.41% and a negative net margin of 16.67%. The company had revenue of $607 million for the quarter, compared to analysts’ expectations of $585.45 million. During the same period last year, the firm earned ($0.10) EPS. Range Resources Corporation’s revenue for the quarter was up 83.2% compared to the same quarter last year. On average, equities research analysts anticipate that Range Resources Corporation will post $0.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.34%. Range Resources Corporation’s dividend payout ratio is currently -5.16%.
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Several equities research analysts have recently issued reports on RRC shares. Evercore ISI upgraded shares of Range Resources Corporation to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and issued a $41.00 price objective on shares of Range Resources Corporation in a research note on Monday, May 1st. J P Morgan Chase & Co restated a “buy” rating on shares of Range Resources Corporation in a research note on Tuesday, April 25th. Scotiabank restated a “buy” rating and issued a $44.00 price objective on shares of Range Resources Corporation in a research note on Friday, April 21st. Finally, Wells Fargo & Company upgraded shares of Range Resources Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company. Range Resources Corporation presently has an average rating of “Buy” and an average target price of $45.01.
In other Range Resources Corporation news, Director James M. Funk purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were acquired at an average cost of $22.96 per share, with a total value of $91,840.00. Following the completion of the acquisition, the director now directly owns 11,303 shares in the company, valued at $259,516.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Ray N. Walker, Jr. sold 7,200 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.17, for a total value of $166,824.00. Following the sale, the chief operating officer now directly owns 63,861 shares in the company, valued at $1,479,659.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,521 shares of company stock worth $842,742. 2.40% of the stock is owned by insiders.
About Range Resources Corporation
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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