Teachers Advisors LLC Raises Holdings in Range Resources Corporation (RRC)
Teachers Advisors LLC boosted its holdings in Range Resources Corporation (NYSE:RRC) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 305,427 shares of the oil and gas exploration company’s stock after acquiring an additional 32,806 shares during the quarter. Teachers Advisors LLC owned about 0.13% of Range Resources Corporation worth $7,077,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of RRC. Smithfield Trust Co. raised its position in Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after acquiring an additional 3,840 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Range Resources Corporation by 26.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock worth $110,000 after acquiring an additional 990 shares in the last quarter. Financial Architects Inc raised its position in Range Resources Corporation by 24.5% in the second quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after acquiring an additional 1,200 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Range Resources Corporation by 886.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,001 shares of the oil and gas exploration company’s stock worth $145,000 after acquiring an additional 4,494 shares in the last quarter. Finally, Stephens Inc. AR raised its position in Range Resources Corporation by 5.6% in the second quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after acquiring an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.
In related news, Director Steffen E. Palko purchased 15,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $16.81 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Ralph Lowe purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was bought at an average price of $17.99 per share, with a total value of $179,900.00. Following the completion of 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. Over the last 90 days, insiders acquired 26,000 shares of company stock valued at $449,800. Corporate insiders own 2.40% of the company’s stock.
Shares of Range Resources Corporation (NYSE RRC) opened at 19.99 on Friday. The company has a 50-day moving average price of $18.64 and a 200 day moving average price of $22.56. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 135.07 and a beta of 0.95. Range Resources Corporation has a 12-month low of $16.00 and a 12-month high of $40.20.
Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.20. The firm had revenue of $565.00 million during the quarter, compared to the consensus estimate 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 was up 55.8% compared to the same quarter last year. During the same period last year, the company earned ($1.35) earnings per share. Equities research analysts expect that Range Resources Corporation will post $0.50 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.40%. Range Resources Corporation’s dividend payout ratio is 100.01%.
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Several equities research analysts have commented on the stock. Stifel Nicolaus set a $21.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a research report on Thursday. Vetr upgraded shares of Range Resources Corporation from a “buy” rating to a “strong-buy” rating and set a $22.02 price target on the stock in a research report on Monday, October 2nd. Wolfe Research cut Range Resources Corporation from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $23.00 to $19.00 in a research note on Wednesday, September 20th. Zacks Investment Research cut Range Resources Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Finally, Piper Jaffray Companies dropped their price target on Range Resources Corporation from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Range Resources Corporation currently has an average rating of “Buy” and an average target price of $34.85.
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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