Lmcg Investments LLC Lowers Stock Position in Range Resources Corporation $RRC

Lmcg Investments LLC lessened its holdings in Range Resources Corporation (NYSE:RRCFree Report) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,330 shares of the oil and gas exploration company’s stock after selling 1,141 shares during the quarter. Lmcg Investments LLC owned 0.06% of Range Resources worth $6,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Range Resources in the 1st quarter valued at approximately $33,000. Bessemer Group Inc. boosted its holdings in Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Range Resources in the 1st quarter valued at approximately $39,000. Barrett & Company Inc. purchased a new stake in Range Resources in the 2nd quarter valued at approximately $41,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Range Resources in the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Down 5.7%

Shares of Range Resources stock opened at $36.37 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources Corporation has a 1 year low of $28.99 and a 1 year high of $43.50. The company has a market capitalization of $8.66 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.34 and a beta of 0.51. The business has a 50 day moving average price of $35.41 and a 200 day moving average price of $36.86.

Range Resources (NYSE:RRCGet Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The firm had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. During the same period in the previous year, the firm posted $0.46 EPS. Sell-side analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, September 12th. Range Resources’s payout ratio is currently 18.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RRC. Roth Capital lowered Range Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $44.00 to $35.00 in a report on Monday, August 18th. UBS Group reduced their price target on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, August 20th. Raymond James Financial reduced their price target on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, September 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Range Resources in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.00.

Get Our Latest Stock Report on RRC

Range Resources Company Profile

(Free Report)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.

See Also

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

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