River & Mercantile Asset Management LLP Has $3.33 Million Position in Range Resources Corp. (RRC)
River & Mercantile Asset Management LLP lifted its stake in shares of Range Resources Corp. (NYSE:RRC) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 196,061 shares of the oil and gas exploration company’s stock after buying an additional 14,835 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Range Resources were worth $3,330,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Range Resources during the 2nd quarter valued at approximately $212,000. New Mexico Educational Retirement Board boosted its holdings in Range Resources by 144.9% in the 2nd quarter. New Mexico Educational Retirement Board now owns 53,100 shares of the oil and gas exploration company’s stock worth $888,000 after buying an additional 31,421 shares during the period. Comerica Bank boosted its holdings in Range Resources by 119.2% in the 2nd quarter. Comerica Bank now owns 200,027 shares of the oil and gas exploration company’s stock worth $3,260,000 after buying an additional 108,759 shares during the period. Aviva PLC boosted its holdings in Range Resources by 3.3% in the 2nd quarter. Aviva PLC now owns 118,038 shares of the oil and gas exploration company’s stock worth $1,975,000 after buying an additional 3,768 shares during the period. Finally, Cognios Capital LLC bought a new position in Range Resources in the 2nd quarter worth approximately $2,115,000.
NYSE RRC opened at $13.84 on Friday. Range Resources Corp. has a 1 year low of $11.93 and a 1 year high of $18.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.53 and a current ratio of 0.56. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.09 and a beta of 0.55.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, December 13th. Range Resources’s dividend payout ratio is presently 13.79%.
RRC has been the subject of several analyst reports. Royal Bank of Canada set a $21.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a report on Thursday, September 20th. Morgan Stanley cut their price objective on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, August 16th. Stephens initiated coverage on shares of Range Resources in a report on Thursday. They issued an “equal weight” rating and a $21.00 price objective for the company. TD Securities raised their price objective on shares of Range Resources from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $29.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. Range Resources currently has a consensus rating of “Hold” and a consensus price target of $21.60.
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About Range Resources
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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