Oarsman Capital Inc. grew its holdings in Range Resources Corp. (NYSE:RRC) by 23.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,415 shares of the oil and gas exploration company’s stock after purchasing an additional 39,391 shares during the quarter. Range Resources comprises about 1.4% of Oarsman Capital Inc.’s portfolio, making the stock its 17th biggest position. Oarsman Capital Inc. owned approximately 0.08% of Range Resources worth $3,541,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Soros Fund Management LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at about $2,928,000. ANTIPODES PARTNERS Ltd lifted its stake in shares of Range Resources by 54.6% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock valued at $97,541,000 after purchasing an additional 2,058,057 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Range Resources by 84.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 64,980 shares of the oil and gas exploration company’s stock valued at $1,087,000 after purchasing an additional 29,676 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Range Resources by 11.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 76,671 shares of the oil and gas exploration company’s stock valued at $1,282,000 after purchasing an additional 8,054 shares during the period. Finally, Putnam Investments LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at about $776,000.
A number of research analysts recently weighed in on the company. Piper Jaffray Companies set a $29.00 price target on Range Resources and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. B. Riley upped their price target on Range Resources from $22.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, October 18th. Royal Bank of Canada set a $21.00 price target on Range Resources and gave the stock a “buy” rating in a research note on Thursday, September 20th. KLR Group reaffirmed a “buy” rating and set a $23.00 price target on shares of Range Resources in a research note on Monday, August 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $22.00 price target on shares of Range Resources in a research note on Wednesday, October 24th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.55.
Shares of Range Resources stock opened at $17.83 on Wednesday. The company has a market capitalization of $4.39 billion, a PE ratio of 30.73, a P/E/G ratio of 1.24 and a beta of 0.58. Range Resources Corp. has a 52 week low of $11.93 and a 52 week high of $18.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.
Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $811.20 million during the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. On average, equities research analysts predict that Range Resources Corp. will post 1.04 earnings per share 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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