Price T Rowe Associates Inc. MD Purchases 5,868 Shares of Range Resources Co. (NYSE:RRC)

Price T Rowe Associates Inc. MD increased its position in Range Resources Co. (NYSE:RRC) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,941 shares of the oil and gas exploration company’s stock after acquiring an additional 5,868 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Range Resources were worth $1,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRC. FMR LLC purchased a new stake in Range Resources in the second quarter valued at approximately $341,298,000. Goldman Sachs Group Inc. raised its stake in Range Resources by 79.9% in the second quarter. Goldman Sachs Group Inc. now owns 4,877,965 shares of the oil and gas exploration company’s stock valued at $81,755,000 after purchasing an additional 2,166,302 shares in the last quarter. Morgan Stanley raised its stake in Range Resources by 87.4% in the second quarter. Morgan Stanley now owns 1,754,998 shares of the oil and gas exploration company’s stock valued at $29,414,000 after purchasing an additional 818,687 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Range Resources in the second quarter valued at approximately $13,017,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Range Resources by 9.7% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,894,790 shares of the oil and gas exploration company’s stock valued at $132,317,000 after purchasing an additional 700,530 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP David P. Poole sold 12,453 shares of Range Resources stock in a transaction on Monday, November 8th. The shares were sold at an average price of $24.50, for a total value of $305,098.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group raised their target price on shares of Range Resources from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, October 27th. Stifel Nicolaus raised shares of Range Resources from a “hold” rating to a “buy” rating and raised their target price for the company from $18.00 to $32.00 in a research note on Friday, October 15th. Truist lifted their price target on shares of Range Resources from $15.00 to $26.00 and gave the stock a “hold” rating in a research note on Thursday, October 7th. Wells Fargo & Company lifted their price target on shares of Range Resources from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 5th. Finally, Benchmark started coverage on shares of Range Resources in a research note on Tuesday, October 26th. They set a “buy” rating and a $33.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Range Resources has a consensus rating of “Hold” and an average price target of $20.14.

NYSE:RRC opened at $21.31 on Thursday. The stock has a market cap of $5.54 billion, a P/E ratio of -11.64, a price-to-earnings-growth ratio of 0.37 and a beta of 2.23. The firm’s fifty day simple moving average is $22.60 and its 200 day simple moving average is $17.65. Range Resources Co. has a twelve month low of $6.19 and a twelve month high of $26.48. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.31.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Monday, October 25th. The oil and gas exploration company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.02). The company had revenue of $302.64 million during the quarter, compared to the consensus estimate of $719.15 million. Range Resources had a negative net margin of 22.48% and a positive return on equity of 17.74%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. On average, analysts expect that Range Resources Co. will post 2.07 EPS for the current fiscal year.

About Range Resources

Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.

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

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