Asset Management One Co. Ltd. Has $7.37 Million Stake in Range Resources Corporation (RRC)
Asset Management One Co. Ltd. lifted its stake in Range Resources Corporation (NYSE:RRC) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,623 shares of the oil and gas exploration company’s stock after purchasing an additional 15,837 shares during the period. Asset Management One Co. Ltd. owned 0.15% of Range Resources worth $7,373,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of RRC. Castleton Investment Management LLC increased its stake in Range Resources by 161.1% in the 3rd quarter. Castleton Investment Management LLC now owns 235,000 shares of the oil and gas exploration company’s stock worth $4,599,000 after buying an additional 145,000 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Range Resources by 21.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,152,057 shares of the oil and gas exploration company’s stock worth $22,546,000 after buying an additional 205,476 shares in the last quarter. Graticule Asia Macro Advisors LLC purchased a new stake in Range Resources in the 3rd quarter worth $5,186,000. Waters Parkerson & CO. LLC increased its stake in Range Resources by 5.3% in the 3rd quarter. Waters Parkerson & CO. LLC now owns 64,686 shares of the oil and gas exploration company’s stock worth $1,266,000 after buying an additional 3,275 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Range Resources during the 3rd quarter valued at about $2,131,000. Hedge funds and other institutional investors own 95.72% of the company’s stock.
RRC has been the subject of several research reports. Jefferies Group reissued a “buy” rating and set a $25.00 price objective on shares of Range Resources in a report on Tuesday, October 10th. Scotiabank reissued a “buy” rating and set a $30.00 price objective on shares of Range Resources in a report on Monday, October 9th. Stifel Nicolaus set a $21.00 price target on shares of Range Resources and gave the company a “buy” rating in a report on Thursday, October 5th. Cowen reaffirmed a “buy” rating and issued a $35.00 price target on shares of Range Resources in a report on Tuesday, August 22nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $32.00 price target on shares of Range Resources in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $30.23.
Range Resources Corporation (NYSE RRC) opened at $15.91 on Tuesday. The stock has a market cap of $3,880.89, a P/E ratio of 43.44 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50. Range Resources Corporation has a 1-year low of $15.33 and a 1-year high of $36.40.
Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The company had revenue of $482.20 million during the quarter, compared to the consensus estimate of $543.16 million. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. Range Resources’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. equities analysts predict that Range Resources Corporation will post 0.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 annualized dividend and a yield of 0.50%. Range Resources’s dividend payout ratio (DPR) is -38.09%.
Range Resources Company Profile
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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