Range Resources Corporation $RRC Stock Holdings Lifted by Brooklyn Investment Group

Brooklyn Investment Group lifted its holdings in Range Resources Corporation (NYSE:RRC) by 456.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,468 shares of the oil and gas exploration company’s stock after purchasing an additional 3,665 shares during the period. Brooklyn Investment Group’s holdings in Range Resources were worth $178,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Range Resources in the 1st quarter worth about $3,838,000. Alliance Wealth Advisors LLC UT lifted its position in shares of Range Resources by 2.4% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 20,449 shares of the oil and gas exploration company’s stock worth $817,000 after buying an additional 476 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Range Resources by 34.9% in the 1st quarter. American Century Companies Inc. now owns 488,224 shares of the oil and gas exploration company’s stock worth $19,495,000 after buying an additional 126,258 shares during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of Range Resources by 0.4% in the 1st quarter. Brandywine Global Investment Management LLC now owns 143,818 shares of the oil and gas exploration company’s stock worth $5,743,000 after buying an additional 557 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Range Resources in the 1st quarter worth about $687,000. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RRC. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of Range Resources in a research report on Tuesday, July 15th. Barclays lifted their price objective on shares of Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Susquehanna lifted their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Finally, Bank of America lifted their price objective on shares of Range Resources from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.75.

Range Resources Stock Up 0.7%

RRC stock opened at $33.0180 on Thursday. Range Resources Corporation has a 52 week low of $27.55 and a 52 week high of $43.50. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60. The firm’s 50-day moving average is $37.65 and its two-hundred day moving average is $37.49. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

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

Range Resources Announces Dividend

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

Insider Activity

In other 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 transaction, the director owned 13,663 shares of the company’s stock, valued at $548,706.08. The trade was a 23.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

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.