Oliver Luxxe Assets LLC Takes $1.50 Million Position in Range Resources Corporation $RRC

Oliver Luxxe Assets LLC acquired a new position in Range Resources Corporation (NYSE:RRC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 37,432 shares of the oil and gas exploration company’s stock, valued at approximately $1,495,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kopernik Global Investors LLC boosted its holdings in Range Resources by 5.2% during the first quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company’s stock worth $113,667,000 after buying an additional 140,043 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Range Resources by 37.1% during the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after acquiring an additional 605,315 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Range Resources by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company’s stock worth $85,899,000 after acquiring an additional 38,648 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in shares of Range Resources by 1.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company’s stock worth $57,803,000 after acquiring an additional 25,403 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Range Resources by 50.1% during the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock worth $56,103,000 after purchasing an additional 468,841 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the sale, the director directly owned 13,663 shares in the company, valued at $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

RRC has been the subject of a number of recent analyst reports. Susquehanna increased their price target on Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Scotiabank set a $46.00 target price on shares of Range Resources and gave the stock a “sector perform” rating in a report on Friday, July 11th. Bank of America boosted their price target on shares of Range Resources from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Mizuho raised their price objective on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.75.

Range Resources Price Performance

Shares of NYSE:RRC opened at $33.3270 on Friday. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.28 and a beta of 0.60. Range Resources Corporation has a 1 year low of $27.55 and a 1 year high of $43.50. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $37.35 and a 200 day simple moving average of $37.42.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The firm had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, sell-side analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Range Resources’s dividend payout ratio is currently 18.09%.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.