Signition LP acquired a new stake in shares of Range Resources Corp. (NYSE:RRC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,980 shares of the oil and gas exploration company’s stock, valued at approximately $238,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC acquired a new stake in Range Resources during the second quarter valued at $100,000. Palo Capital Inc. acquired a new stake in Range Resources during the third quarter valued at $198,000. Nisa Investment Advisors LLC boosted its position in Range Resources by 47.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock valued at $199,000 after purchasing an additional 3,750 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Range Resources during the second quarter valued at $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Range Resources during the second quarter valued at $212,000.
NYSE RRC opened at $17.57 on Tuesday. Range Resources Corp. has a twelve month low of $11.93 and a twelve month high of $19.38. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.09 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.16 and a beta of 0.58.
Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The firm had revenue of $811.20 million for the quarter, compared to analyst estimates of $747.06 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. As a group, analysts expect that Range Resources Corp. will post 1.04 EPS for the current year.
A number of analysts recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and set a $27.00 price objective on shares of Range Resources in a research report on Friday, July 20th. Morgan Stanley set a $18.00 price target on Range Resources and gave the stock a “sell” rating in a research report on Friday, October 12th. Macquarie set a $18.00 price target on Range Resources and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Guggenheim reaffirmed a “buy” rating and issued a $22.00 price target on shares of Range Resources in a research report on Wednesday, October 24th. Finally, TD Securities reduced their price target on Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Range Resources currently has an average rating of “Hold” and a consensus target price of $22.55.
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Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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