Retirement Systems of Alabama decreased its holdings in Range Resources Corp. (NYSE:RRC) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 267,570 shares of the oil and gas exploration company’s stock after selling 26,119 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Range Resources worth $4,546,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. St. Johns Investment Management Company LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at $100,000. Nisa Investment Advisors LLC raised its stake in shares of Range Resources by 47.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock valued at $199,000 after buying an additional 3,750 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Range Resources in the 2nd quarter valued at $207,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Range Resources in the 2nd quarter valued at $212,000. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at $223,000.
A number of brokerages have recently issued reports on RRC. TD Securities dropped their price objective on shares of Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, July 31st. Morgan Stanley set a $17.00 price objective on shares of Range Resources and gave the company a “sell” rating in a research note on Monday, October 29th. Guggenheim restated a “buy” rating and issued a $22.00 price objective on shares of Range Resources in a research note on Wednesday, October 24th. Piper Jaffray Companies set a $29.00 price objective on shares of Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, B. Riley increased their price objective on shares of Range Resources from $22.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.55.
Shares of Range Resources stock opened at $17.39 on Wednesday. The stock has a market cap of $4.09 billion, a P/E ratio of 29.98, a PEG ratio of 1.16 and a beta of 0.58. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. Range Resources Corp. has a 12-month low of $11.93 and a 12-month high of $19.38.
Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $811.20 million during the quarter, compared to analysts’ expectations of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The firm’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. As a group, equities research analysts forecast that Range Resources Corp. will post 1.04 EPS for the current fiscal year.
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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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