Range Resources Corporation $RRC Shares Acquired by Sigma Planning Corp

Sigma Planning Corp boosted its holdings in shares of Range Resources Corporation (NYSE:RRC) by 63.3% in the second quarter, HoldingsChannel.com reports. The fund owned 14,190 shares of the oil and gas exploration company’s stock after buying an additional 5,502 shares during the quarter. Sigma Planning Corp’s holdings in Range Resources were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hantz Financial Services Inc. boosted its stake in shares of Range Resources by 1,464.6% during the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares during the last quarter. Hollencrest Capital Management acquired a new position in Range Resources in the 1st quarter valued at about $33,000. Cullen Frost Bankers Inc. purchased a new position in Range Resources in the 1st quarter valued at about $39,000. Barrett & Company Inc. acquired a new stake in shares of Range Resources during the 2nd quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Range Resources during the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $37.55 on Friday. The business’s 50-day simple moving average is $36.43 and its 200 day simple moving average is $37.03. The company has a market cap of $8.90 billion, a P/E ratio of 15.78, a PEG ratio of 0.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.56. Range Resources Corporation has a one year low of $30.32 and a one year high of $43.50.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $748.53 million during the quarter, compared to analysts’ expectations of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.Range Resources’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, sell-side analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is presently 15.13%.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Range Resources to a “strong-buy” rating in a research report on Thursday, October 16th. Roth Capital cut shares of Range Resources from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Citigroup cut their price objective on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Finally, UBS Group cut their price target on shares of Range Resources from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.95.

Range Resources 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.