Contrarius Investment Management Ltd acquired a new position in Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,460 shares of the oil and gas exploration company’s stock, valued at approximately $1,864,000.

A number of other institutional investors have also recently bought and sold shares of RRC. Smithfield Trust Co. boosted its stake in Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 3,840 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Range Resources Corporation by 7.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,756 shares of the oil and gas exploration company’s stock worth $109,000 after buying an additional 257 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Range Resources Corporation by 0.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock worth $119,000 after buying an additional 31 shares in the last quarter. Financial Architects Inc boosted its stake in Range Resources Corporation by 24.5% in the second quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 1,200 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Range Resources Corporation by 886.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,001 shares of the oil and gas exploration company’s stock worth $145,000 after buying an additional 4,494 shares in the last quarter. Institutional investors and hedge funds own 95.34% of the company’s stock.

Range Resources Corporation (NYSE RRC) opened at 17.40 on Wednesday. Range Resources Corporation has a one year low of $16.50 and a one year high of $43.60. The stock has a 50 day moving average price of $19.66 and a 200-day moving average price of $24.78. The stock has a market cap of $4.25 billion, a PE ratio of 117.57 and a beta of 0.92.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.20. The company had revenue of $565 million during the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. Range Resources Corporation’s revenue was up 55.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.35) EPS. Equities research analysts expect that Range Resources Corporation will post $0.51 earnings per share for the current fiscal year.

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A number of research firms have recently commented on RRC. ValuEngine raised Range Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada set a $44.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Scotiabank set a $35.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. Robert W. Baird cut their target price on Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, August 11th. Finally, Jefferies Group LLC set a $36.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.69.

In other news, COO Ray N. Walker, Jr. sold 7,200 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $23.17, for a total transaction of $166,824.00. Following the completion of the sale, the chief operating officer now directly owns 63,861 shares in the company, valued at approximately $1,479,659.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Ralph Lowe acquired 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average price of $17.99 per share, with a total value of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares in the company, valued at $457,179.87. The disclosure for this purchase can be found here. Insiders acquired a total of 30,000 shares of company stock valued at $541,640 over the last quarter. 0.42% of the stock is currently owned by insiders.

About Range Resources Corporation

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.

Institutional Ownership by Quarter for Range Resources Corporation (NYSE:RRC)

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