Cubist Systematic Strategies LLC lessened its stake in shares of Range Resources Corporation (NYSE:RRC) by 68.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,758 shares of the oil and gas exploration company’s stock after selling 19,238 shares during the period. Cubist Systematic Strategies LLC’s holdings in Range Resources were worth $171,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in RRC. State Street Corp grew its stake in Range Resources by 15.0% during the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after acquiring an additional 1,805,404 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Range Resources during the 3rd quarter valued at about $34,462,000. UBS Oconnor LLC grew its stake in Range Resources by 246.9% during the 2nd quarter. UBS Oconnor LLC now owns 2,273,650 shares of the oil and gas exploration company’s stock valued at $52,680,000 after acquiring an additional 1,618,250 shares in the last quarter. Vanguard Group Inc. grew its stake in Range Resources by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after acquiring an additional 976,293 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Range Resources by 72.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock valued at $53,825,000 after acquiring an additional 973,814 shares in the last quarter. 95.28% of the stock is owned by institutional investors.
Shares of Range Resources Corporation (NYSE RRC) opened at $17.58 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4,360.00, a P/E ratio of -83.71 and a beta of 0.91. Range Resources Corporation has a one year low of $15.33 and a one year high of $36.40.
Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The firm had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. sell-side analysts forecast that Range Resources Corporation will post 0.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.46%. Range Resources’s payout ratio is currently -38.10%.
Several analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Scotiabank reaffirmed a “buy” rating and set a $30.00 price objective on shares of Range Resources in a research note on Monday, October 9th. BMO Capital Markets set a $30.00 price objective on shares of Range Resources and gave the company a “buy” rating in a research note on Tuesday, November 14th. JPMorgan Chase & Co. cut shares of Range Resources from an “overweight” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research note on Monday, October 23rd. Finally, Zacks Investment Research cut shares of Range Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $30.02.
In related news, VP David P. Poole sold 30,920 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total transaction of $505,851.20. Following the completion of the transaction, the vice president now owns 17,647 shares of the company’s stock, valued at approximately $288,704.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Roger S. Manny sold 10,757 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total transaction of $176,629.94. Following the transaction, the chief financial officer now directly owns 143,703 shares of the company’s stock, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. Insiders have sold a total of 44,574 shares of company stock valued at $729,007 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.
Range Resources Company Profile
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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