KLCM Advisors Inc. cut its position in Range Resources Corp. (NYSE:RRC) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 522,877 shares of the oil and gas exploration company’s stock after selling 163,800 shares during the period. Range Resources makes up 2.2% of KLCM Advisors Inc.’s holdings, making the stock its 22nd largest position. KLCM Advisors Inc. owned approximately 0.21% of Range Resources worth $8,920,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Waters Parkerson & CO. LLC increased its holdings in shares of Range Resources by 5.3% in the third quarter. Waters Parkerson & CO. LLC now owns 64,686 shares of the oil and gas exploration company’s stock valued at $1,266,000 after purchasing an additional 3,275 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Range Resources by 21.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,078 shares of the oil and gas exploration company’s stock valued at $393,000 after purchasing an additional 3,557 shares during the period. Norinchukin Bank The increased its holdings in shares of Range Resources by 28.7% in the third quarter. Norinchukin Bank The now owns 16,807 shares of the oil and gas exploration company’s stock valued at $329,000 after purchasing an additional 3,749 shares during the period. Brown Advisory Inc. increased its holdings in shares of Range Resources by 10.6% in the third quarter. Brown Advisory Inc. now owns 40,988 shares of the oil and gas exploration company’s stock valued at $802,000 after purchasing an additional 3,935 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Range Resources by 11.4% during the third quarter. Pacer Advisors Inc. now owns 40,083 shares of the oil and gas exploration company’s stock worth $784,000 after acquiring an additional 4,104 shares during the period. 96.32% of the stock is currently owned by institutional investors and hedge funds.
RRC has been the topic of several analyst reports. Morgan Stanley lowered Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a report on Wednesday, January 24th. Bank of America lowered Range Resources from a “buy” rating to a “neutral” rating in a report on Thursday, January 4th. Cowen set a $25.00 target price on Range Resources and gave the stock a “buy” rating in a report on Thursday, January 18th. Barclays reaffirmed a “buy” rating and set a $19.00 target price on shares of Range Resources in a report on Sunday, December 24th. Finally, Piper Jaffray Companies set a $28.00 target price on Range Resources and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.39.
In other news, Director Steffen E. Palko bought 34,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average price of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the transaction, the director now directly owns 61,267 shares in the company, valued at approximately $901,850.24. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.
Range Resources Corp. (RRC) opened at $14.74 on Friday. The firm has a market capitalization of $3,738.03, a P/E ratio of 11.00, a PEG ratio of 0.66 and a beta of 0.69. Range Resources Corp. has a 1 year low of $11.93 and a 1 year high of $30.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.57 and a quick ratio of 0.54.
Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $679.00 million for the quarter, compared to the consensus estimate of $659.71 million. Range Resources had a return on equity of 5.42% and a net margin of 12.76%. The business’s quarterly revenue was up 167.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. sell-side analysts expect that Range Resources Corp. will post 0.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $0.02 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.54%. Range Resources’s dividend payout ratio (DPR) is presently 5.97%.
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Range Resources 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.
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