Smithfield Trust Co. boosted its stake in Range Resources Corporation (NYSE:RRC) by 480.0% during the second quarter, Holdings Channel reports. The institutional investor owned 4,640 shares of the oil and gas exploration company’s stock after buying an additional 3,840 shares during the period. Smithfield Trust Co.’s holdings in Range Resources Corporation were worth $107,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its stake in 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 valued at $1,669,000 after buying an additional 600 shares in the last quarter. Bank of Montreal Can boosted its stake in 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 valued at $12,143,000 after buying an additional 75,348 shares in the last quarter. Capstone Asset Management Co. boosted its stake in 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 valued at $360,000 after buying an additional 140 shares in the last quarter. TNB Financial purchased a new stake in Range Resources Corporation during the first quarter valued at about $1,286,000. Finally, Edge Wealth Management LLC purchased a new stake in Range Resources Corporation during the first quarter valued at about $803,000. 93.84% of the stock is currently owned by institutional investors.

Range Resources Corporation (NYSE RRC) opened at 16.83 on Thursday. The company has a 50-day moving average of $21.23 and a 200 day moving average of $26.10. Range Resources Corporation has a 12-month low of $16.67 and a 12-month high of $43.60. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 113.72 and a beta of 0.92.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.20. The business had revenue of $565 million during the quarter, compared to analysts’ expectations of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm’s quarterly revenue was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.35) EPS. Equities analysts anticipate that Range Resources Corporation will post $0.55 earnings per share for the current year.

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RRC has been the topic of several analyst reports. Evercore ISI raised shares of Range Resources Corporation to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, April 19th. Barclays PLC reaffirmed a “sell” rating and set a $26.00 price target (down from $29.00) on shares of Range Resources Corporation in a research note on Thursday, April 20th. Scotiabank reaffirmed a “buy” rating and set a $44.00 price target on shares of Range Resources Corporation in a research note on Friday, April 21st. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Range Resources Corporation in a research note on Tuesday, April 25th. Finally, KLR Group raised their price target on shares of Range Resources Corporation from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.92.

In related news, insider Chad L. Stephens sold 28,744 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 106,692 shares of the company’s stock, valued at approximately $2,459,250.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Ray N. Walker, Jr. sold 7,200 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.17, for a total value of $166,824.00. Following the completion of the sale, the chief operating officer now directly owns 63,861 shares of the company’s stock, valued at approximately $1,479,659.37. The disclosure for this sale can be found here. In the last three months, insiders purchased 15,000 shares of company stock valued at $289,490 and sold 36,521 shares valued at $842,742. Insiders own 2.40% of the company’s stock.

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

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