KLCM Advisors Inc. cut its holdings in Range Resources Corp. (NYSE:RRC) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 522,877 shares of the oil and gas exploration company’s stock after selling 163,800 shares during the quarter. Range Resources accounts for approximately 2.2% of KLCM Advisors Inc.’s investment portfolio, making the stock its 22nd largest position. KLCM Advisors Inc. owned 0.21% of Range Resources worth $8,920,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. SailingStone Capital Partners LLC lifted its position in Range Resources by 7.9% in the fourth quarter. SailingStone Capital Partners LLC now owns 35,832,571 shares of the oil and gas exploration company’s stock worth $611,304,000 after buying an additional 2,623,957 shares during the last quarter. BlackRock Inc. lifted its position in shares of Range Resources by 4.5% during the fourth quarter. BlackRock Inc. now owns 15,543,438 shares of the oil and gas exploration company’s stock worth $265,170,000 after purchasing an additional 673,151 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of Range Resources by 14.1% during the third quarter. Thompson Siegel & Walmsley LLC now owns 4,951,343 shares of the oil and gas exploration company’s stock worth $96,898,000 after purchasing an additional 612,032 shares during the last quarter. WS Management Lllp lifted its position in shares of Range Resources by 13.0% during the fourth quarter. WS Management Lllp now owns 3,762,152 shares of the oil and gas exploration company’s stock worth $64,182,000 after purchasing an additional 431,852 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of Range Resources by 55.2% during the fourth quarter. Guggenheim Capital LLC now owns 3,579,421 shares of the oil and gas exploration company’s stock worth $61,063,000 after purchasing an additional 1,272,442 shares during the last quarter. 96.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Range Resources stock traded down $0.55 on Friday, reaching $13.97. 6,188,046 shares of the stock were exchanged, compared to its average volume of 6,778,566. The company has a quick ratio of 0.54, a current ratio of 0.57 and a debt-to-equity ratio of 0.71. Range Resources Corp. has a twelve month low of $11.93 and a twelve month high of $30.00. The company has a market capitalization of $3,608.79, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 0.61 and a beta of 0.55.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Range Resources had a return on equity of 5.42% and a net margin of 12.76%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $659.71 million. During the same period in the previous year, the company posted $0.23 earnings per share. Range Resources’s revenue for the quarter was up 167.9% on a year-over-year basis. research analysts anticipate that Range Resources Corp. will post 1.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, March 15th. Range Resources’s payout ratio is presently 13.79%.
Several analysts have recently weighed in on RRC shares. Bank of America downgraded Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Barclays restated a “buy” rating and issued a $19.00 price objective on shares of Range Resources in a report on Sunday, December 24th. Morgan Stanley downgraded Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a report on Wednesday, January 24th. Credit Suisse Group started coverage on Range Resources in a report on Monday, December 11th. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Range Resources to $28.00 and set an “outperform” rating for the company in a report on Thursday, January 25th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $23.04.
In related news, Director Steffen E. Palko purchased 34,000 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was bought at an average cost of $14.72 per share, with a total value of $500,480.00. Following the completion of the acquisition, the director now owns 61,267 shares of the company’s stock, valued at approximately $901,850.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.
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About Range Resources
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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