Janney Montgomery Scott LLC raised its stake in Range Resources Corporation (NYSE:RRC) by 22.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,367 shares of the oil and gas exploration company’s stock after buying an additional 7,687 shares during the period. Janney Montgomery Scott LLC’s holdings in Range Resources Corporation were worth $982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Range Resources Corporation during the first quarter valued at approximately $440,000. Morgan Stanley raised its position in shares of Range Resources Corporation by 25.9% in the first quarter. Morgan Stanley now owns 1,724,403 shares of the oil and gas exploration company’s stock valued at $50,181,000 after buying an additional 354,922 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Range Resources Corporation by 3.0% in the first quarter. Prudential Financial Inc. now owns 253,351 shares of the oil and gas exploration company’s stock valued at $7,373,000 after buying an additional 7,300 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Range Resources Corporation by 2.1% in the first quarter. Retirement Systems of Alabama now owns 90,931 shares of the oil and gas exploration company’s stock valued at $2,646,000 after buying an additional 1,904 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Range Resources Corporation by 7.5% in the first quarter. M&T Bank Corp now owns 27,112 shares of the oil and gas exploration company’s stock valued at $788,000 after buying an additional 1,889 shares during the last quarter. 93.84% of the stock is owned by institutional investors.

Range Resources Corporation (NYSE:RRC) opened at 16.81 on Friday. 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 price is $20.98 and its 200-day moving average price 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 released its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.20. The firm had revenue of $565 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.35) EPS. On average, analysts forecast that Range Resources Corporation will post $0.54 EPS for the current fiscal year.

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RRC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, July 17th. Barclays PLC dropped their target price on Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, August 3rd. Citigroup Inc. dropped their target price on Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, July 21st. BMO Capital Markets set a $35.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. 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 research report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.14.

In related news, Director Steffen E. Palko purchased 15,000 shares of Range Resources Corporation stock in a transaction dated 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 transaction, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chad L. Stephens sold 28,744 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $23.05, for a total value of $662,549.20. Following the completion of the transaction, the insider now directly owns 106,692 shares of the company’s stock, valued at $2,459,250.60. The disclosure for this sale can be found here. Over the last three months, insiders bought 30,000 shares of company stock valued at $541,640 and sold 36,521 shares valued at $842,742. Insiders own 2.40% of the company’s stock.

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.

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

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