Sumitomo Mitsui Asset Management Company LTD raised its stake in Range Resources Corporation (NYSE:RRC) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,704 shares of the oil and gas exploration company’s stock after buying an additional 3,494 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Range Resources Corporation were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sippican Capital Advisors increased its position in Range Resources Corporation by 110.6% in the first quarter. Sippican Capital Advisors now owns 24,175 shares of the oil and gas exploration company’s stock valued at $703,000 after buying an additional 12,695 shares during the period. Nationwide Fund Advisors increased its position in Range Resources Corporation by 16.4% in the first quarter. Nationwide Fund Advisors now owns 304,877 shares of the oil and gas exploration company’s stock valued at $8,872,000 after buying an additional 43,023 shares during the period. Candriam Luxembourg S.C.A. increased its position in Range Resources Corporation by 40.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 100,315 shares of the oil and gas exploration company’s stock valued at $2,919,000 after buying an additional 28,669 shares during the period. Retirement Systems of Alabama increased its position in 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 period. Finally, Quantitative Systematic Strategies LLC acquired a new position in Range Resources Corporation during the first quarter valued at approximately $260,000. 93.84% of the stock is owned by institutional investors.

Range Resources Corporation (NYSE:RRC) opened at 16.92 on Friday. The company’s 50 day moving average is $21.11 and its 200 day moving average is $26.03. Range Resources Corporation has a 12-month low of $16.67 and a 12-month high of $43.60. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 114.32 and a beta of 0.92.

Range Resources Corporation (NYSE:RRC) last released its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.08 by $0.20. The firm had revenue of $565 million for the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The company’s quarterly revenue was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.35) earnings per share. Analysts forecast that Range Resources Corporation will post $0.54 earnings per share for the current fiscal year.

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Several research firms recently commented on RRC. Barclays PLC reaffirmed a “sell” rating and issued a $26.00 price objective (down from $29.00) on shares of Range Resources Corporation in a report on Thursday, April 20th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $49.00 price objective on shares of Range Resources Corporation in a report on Thursday, April 27th. KLR Group raised their price objective on shares of Range Resources Corporation from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Scotiabank reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Range Resources Corporation in a report on Friday, April 21st. Finally, Evercore ISI raised shares of Range Resources Corporation to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.92.

In other Range Resources Corporation news, Director Steffen E. Palko purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $16.81 per share, with a total value of $252,150.00. Following the completion of the purchase, the director now directly owns 27,267 shares in the company, valued at $458,358.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Ralph Lowe purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the purchase, the director now owns 25,413 shares of the company’s stock, valued at $457,179.87. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 30,000 shares of company stock worth $541,640 and have sold 36,521 shares worth $842,742. 2.40% of the stock is owned by corporate insiders.

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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