Range Resources Corporation (NYSE:RRC) Shares Sold by Cannell Peter B & Co. Inc.

Cannell Peter B & Co. Inc. reduced its holdings in shares of Range Resources Corporation (NYSE:RRC) by 36.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,600 shares of the oil and gas exploration company’s stock after selling 41,900 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Range Resources were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in RRC. State Street Corp increased its position in Range Resources by 15.0% during the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after buying an additional 1,805,404 shares in the last quarter. UBS Oconnor LLC increased its position in Range Resources by 246.9% during the 2nd quarter. UBS Oconnor LLC now owns 2,273,650 shares of the oil and gas exploration company’s stock valued at $52,680,000 after buying an additional 1,618,250 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Range Resources by 1,318.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,501,921 shares of the oil and gas exploration company’s stock valued at $34,800,000 after buying an additional 1,395,999 shares in the last quarter. Vanguard Group Inc. increased its position in Range Resources by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after buying an additional 976,293 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Range Resources by 72.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock valued at $53,825,000 after buying an additional 973,814 shares in the last quarter. 95.72% of the stock is currently owned by institutional investors.

RRC has been the topic of several recent analyst reports. Barclays reaffirmed an “underweight” rating and set a $18.00 target price (down from $20.00) on shares of Range Resources in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Range Resources in a research report on Thursday, August 10th. Robert W. Baird reduced their target price on Range Resources from $29.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, August 11th. Citigroup dropped their price target on Range Resources from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 15th. Finally, Cowen reiterated a “buy” rating and set a $35.00 price target on shares of Range Resources in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Range Resources presently has an average rating of “Buy” and a consensus target price of $31.76.

Shares of Range Resources Corporation (NYSE RRC) traded down $0.55 on Thursday, hitting $15.95. The stock had a trading volume of 9,538,529 shares, compared to its average volume of 5,897,063. The stock has a market capitalization of $4,287.85, a P/E ratio of 48.00 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. Range Resources Corporation has a 1 year low of $15.94 and a 1 year high of $39.64.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. Range Resources’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. equities research analysts expect that Range Resources Corporation will post 0.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.50%. Range Resources’s dividend payout ratio is currently -38.09%.

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Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

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

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