Riverhead Capital Management LLC grew its holdings in shares of Range Resources Corp. (NYSE:RRC) by 28.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,672 shares of the oil and gas exploration company’s stock after acquiring an additional 4,972 shares during the quarter. Riverhead Capital Management LLC’s holdings in Range Resources were worth $158,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Range Resources by 2.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 51,367 shares of the oil and gas exploration company’s stock valued at $577,000 after acquiring an additional 1,367 shares during the last quarter. GAM Holding AG boosted its position in shares of Range Resources by 1.8% during the 1st quarter. GAM Holding AG now owns 94,200 shares of the oil and gas exploration company’s stock valued at $1,059,000 after acquiring an additional 1,700 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Range Resources by 1.8% during the 1st quarter. Mason Street Advisors LLC now owns 110,414 shares of the oil and gas exploration company’s stock valued at $1,241,000 after acquiring an additional 1,940 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Range Resources by 0.6% during the 1st quarter. California State Teachers Retirement System now owns 342,638 shares of the oil and gas exploration company’s stock valued at $3,851,000 after acquiring an additional 1,944 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust raised its holdings in shares of Range Resources by 10.0% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 22,000 shares of the oil and gas exploration company’s stock valued at $154,000 after buying an additional 2,000 shares in the last quarter.
Range Resources stock traded up $0.25 during trading hours on Friday, reaching $4.63. The company had a trading volume of 12,401,236 shares, compared to its average volume of 12,183,278. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70. The company has a 50-day moving average price of $4.30 and a 200 day moving average price of $7.61. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 5.55, a P/E/G ratio of 3.89 and a beta of 1.03. Range Resources Corp. has a 12-month low of $3.36 and a 12-month high of $18.59.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $851.43 million for the quarter, compared to analysts’ expectations of $672.93 million. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. As a group, research analysts expect that Range Resources Corp. will post 0.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 1.73%. Range Resources’s dividend payout ratio (DPR) is currently 7.08%.
A number of equities analysts recently weighed in on RRC shares. Zacks Investment Research cut Range Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Jefferies Financial Group cut Range Resources from a “buy” rating to a “hold” rating and decreased their price objective for the company from $17.00 to $7.00 in a report on Monday, July 15th. Citigroup decreased their price objective on Range Resources from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. MKM Partners raised Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, August 19th. Finally, TD Securities decreased their price objective on Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. Range Resources has a consensus rating of “Hold” and an average price target of $13.01.
In other Range Resources news, VP David P. Poole sold 5,843 shares of Range Resources stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $5.69, for a total value of $33,246.67. Following the transaction, the vice president now directly owns 58,196 shares of the company’s stock, valued at approximately $331,135.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Scucchi purchased 9,483 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $5.27 per share, for a total transaction of $49,975.41. Following the completion of the purchase, the chief financial officer now directly owns 14,149 shares in the company, valued at $74,565.23. The disclosure for this purchase can be found here. Insiders acquired a total of 42,938 shares of company stock worth $176,159 over the last ninety days. Insiders own 0.35% of the company’s stock.
Range Resources 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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