Dimensional Fund Advisors LP reduced its stake in shares of Range Resources Corp. (NYSE:RRC) by 11.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,397,264 shares of the oil and gas exploration company’s stock after selling 177,440 shares during the period. Dimensional Fund Advisors LP owned 0.84% of Range Resources Corp. worth $60,290,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. AXA boosted its stake in Range Resources Corp. by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 653 shares in the last quarter. Stephens Inc. AR boosted its stake in Range Resources Corp. by 24.9% in the second quarter. Stephens Inc. AR now owns 4,049 shares of the oil and gas exploration company’s stock valued at $175,000 after buying an additional 808 shares during the period. BlueMountain Capital Management LLC acquired a new stake in Range Resources Corp. during the first quarter valued at about $178,000. Cypress Asset Management Inc. TX acquired a new stake in Range Resources Corp. during the second quarter valued at about $204,000. Finally, Glenmede Trust Co. NA boosted its stake in Range Resources Corp. by 27.6% in the second quarter. Glenmede Trust Co. NA now owns 4,850 shares of the oil and gas exploration company’s stock valued at $208,000 after buying an additional 1,050 shares during the period.
Shares of Range Resources Corp. (NYSE:RRC) traded up 0.34% during midday trading on Monday, reaching $38.88. The company’s stock had a trading volume of 846,160 shares. The stock has a 50 day moving average of $39.53 and a 200-day moving average of $39.99. The company’s market capitalization is $6.48 billion. Range Resources Corp. has a 1-year low of $19.21 and a 1-year high of $46.96.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The business had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that Range Resources Corp. will post ($0.21) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. Range Resources Corp.’s payout ratio is -1.42%.
RRC has been the subject of several recent analyst reports. KLR Group raised Range Resources Corp. from an “accumulate” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, July 28th. Zacks Investment Research raised Range Resources Corp. from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, July 12th. Vetr cut Range Resources Corp. from a “hold” rating to a “sell” rating and set a $44.39 target price for the company. in a research note on Tuesday, June 21st. Imperial Capital raised Range Resources Corp. from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $45.00 to $55.00 in a research note on Thursday, July 14th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $52.00 target price on shares of Range Resources Corp. in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Range Resources Corp. currently has a consensus rating of “Buy” and a consensus target price of $44.53.
In related news, Director Gregory Gene Maxwell purchased 1,000 shares of Range Resources Corp. stock in a transaction dated Tuesday, September 27th. The shares were acquired at an average price of $37.00 per share, with a total value of $37,000.00. Following the completion of the transaction, the director now owns 12,211 shares of the company’s stock, valued at approximately $451,807. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $37.53, for a total transaction of $501,025.50. Following the transaction, the chief operating officer now directly owns 42,598 shares in the company, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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