Range Resources Corporation (RRC) Short Interest Update
Range Resources Corporation (NYSE:RRC) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 37,319,650 shares, an increase of 10.4% from the August 31st total of 33,810,932 shares. Approximately 15.2% of the company’s shares are sold short. Based on an average daily trading volume, of 8,465,807 shares, the short-interest ratio is currently 4.4 days.
Shares of Range Resources Corporation (NYSE RRC) opened at 19.57 on Monday. The firm’s 50-day moving average price is $17.82 and its 200 day moving average price is $23.24. Range Resources Corporation has a 52 week low of $16.00 and a 52 week high of $40.20. The firm has a market cap of $4.78 billion, a PE ratio of 132.23 and a beta of 0.94.
Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings results 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 company had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. During the same period in the previous year, the company earned ($1.35) earnings per share. The company’s quarterly revenue was up 55.8% compared to the same quarter last year. Equities analysts anticipate that Range Resources Corporation will post $0.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.41%. Range Resources Corporation’s payout ratio is 100.01%.
In other news, Director Mary Ralph Lowe bought 10,000 shares of Range Resources Corporation stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares of the company’s stock, valued at $457,179.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steffen E. Palko bought 15,000 shares of Range Resources Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now directly owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 26,000 shares of company stock valued at $449,800. Insiders own 2.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RRC. BlackRock Inc. raised its stake in Range Resources Corporation by 2,153.9% during the 1st quarter. BlackRock Inc. now owns 13,133,750 shares of the oil and gas exploration company’s stock valued at $382,193,000 after purchasing an additional 12,551,039 shares during the last quarter. State Street Corp boosted its holdings in Range Resources Corporation by 15.0% in the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after purchasing an additional 1,805,404 shares during the period. UBS Oconnor LLC boosted its holdings in Range Resources Corporation by 246.9% in the 2nd quarter. UBS Oconnor LLC now owns 2,273,650 shares of the oil and gas exploration company’s stock valued at $52,680,000 after purchasing an additional 1,618,250 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Range Resources Corporation by 1,318.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,501,921 shares of the oil and gas exploration company’s stock valued at $34,800,000 after purchasing an additional 1,395,999 shares during the period. Finally, Stelliam Investment Management LP boosted its holdings in Range Resources Corporation by 21.9% in the 1st quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock valued at $166,525,000 after purchasing an additional 1,027,500 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, August 11th. Citigroup Inc. dropped their target price on shares of 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. Zacks Investment Research upgraded shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, July 17th. Jefferies Group LLC set a $36.00 price target on shares of Range Resources Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, BidaskClub cut shares of Range Resources Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources Corporation has a consensus rating of “Buy” and an average price target of $34.81.
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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