ING Groep NV Raises Stake in Range Resources Corporation (NYSE:RRC)
ING Groep NV boosted its position in Range Resources Corporation (NYSE:RRC) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 9,618 shares of the oil and gas exploration company’s stock after buying an additional 10 shares during the period. ING Groep NV’s holdings in Range Resources Corporation were worth $223,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Gulf International Bank UK Ltd boosted its stake in shares of Range Resources Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 57,376 shares of the oil and gas exploration company’s stock worth $1,669,000 after buying an additional 600 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Range Resources Corporation by 22.0% in the first quarter. Bank of Montreal Can now owns 417,333 shares of the oil and gas exploration company’s stock worth $12,143,000 after buying an additional 75,348 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Range Resources Corporation by 1.1% in the first quarter. Capstone Asset Management Co. now owns 12,374 shares of the oil and gas exploration company’s stock worth $360,000 after buying an additional 140 shares during the last quarter. Skylands Capital LLC purchased a new stake in shares of Range Resources Corporation during the first quarter worth about $146,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Range Resources Corporation during the first quarter worth about $381,000. Institutional investors and hedge funds own 93.84% of the company’s stock.
Range Resources Corporation (NYSE:RRC) traded down 0.65% during midday trading on Friday, hitting $16.81. The company had a trading volume of 6,461,280 shares. Range Resources Corporation has a one year low of $16.50 and a one year high of $43.60. The company’s 50 day moving average is $20.98 and its 200-day moving average is $25.91. The company has a market cap of $4.10 billion, a P/E ratio of 113.58 and a beta of 0.92.
Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The business had revenue of $565 million during the quarter, compared to analysts’ expectations of $544.08 million. During the same period in the previous year, the firm earned ($1.35) earnings per share. The firm’s quarterly revenue was up 55.8% compared to the same quarter last year. On average, equities analysts predict that Range Resources Corporation will post $0.54 EPS for the current year.
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A number of analysts have recently issued reports on RRC shares. Evercore ISI upgraded Range Resources Corporation to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, April 19th. Barclays PLC reiterated a “sell” rating and set a $26.00 target price (down previously from $29.00) on shares of Range Resources Corporation in a report on Thursday, April 20th. Scotiabank reiterated a “buy” rating and set a $44.00 target price on shares of Range Resources Corporation in a report on Friday, April 21st. J P Morgan Chase & Co reiterated a “buy” rating on shares of Range Resources Corporation in a report on Tuesday, April 25th. Finally, KLR Group boosted their target price on Range Resources Corporation from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $40.14.
In other Range Resources Corporation news, Director Steffen E. Palko bought 15,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $16.81 per share, with a total value of $252,150.00. Following the completion of the purchase, the director now owns 27,267 shares in the company, valued at $458,358.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James M. Funk bought 4,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $22.96 per share, with a total value of $91,840.00. Following the completion of the purchase, the director now owns 11,303 shares of the company’s stock, valued at approximately $259,516.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 30,000 shares of company stock valued at $541,640 and have sold 36,521 shares valued at $842,742. 2.40% of the stock is owned by insiders.
Range Resources Corporation 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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