Shell Asset Management Co. lowered its stake in shares of Range Resources Corp. (NYSE:RRC) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 9,166 shares of the oil and gas exploration company’s stock after selling 537 shares during the period. Shell Asset Management Co.’s holdings in Range Resources Corp. were worth $395,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System boosted its stake in shares of Range Resources Corp. by 4.1% in the second quarter. New York State Teachers Retirement System now owns 322,280 shares of the oil and gas exploration company’s stock valued at $13,903,000 after buying an additional 12,715 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Range Resources Corp. during the second quarter valued at $490,000. Locust Wood Capital Advisers LLC purchased a new stake in shares of Range Resources Corp. during the second quarter valued at $497,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Range Resources Corp. during the second quarter valued at $3,685,000. Finally, Gilman Hill Asset Management LLC purchased a new stake in shares of Range Resources Corp. during the second quarter valued at $236,000.
Range Resources Corp. (NYSE:RRC) traded down 1.17% during midday trading on Tuesday, hitting $38.78. 3,792,632 shares of the stock traded hands. Range Resources Corp. has a 12 month low of $19.21 and a 12 month high of $46.96. The company’s 50 day moving average price is $39.45 and its 200 day moving average price is $40.38. The firm’s market cap is $6.46 billion.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The company had revenue of $362.67 million for the quarter, compared to the consensus estimate of $327.40 million. During the same quarter in the prior year, the company earned $0.01 EPS. Range Resources Corp.’s quarterly revenue was down 10.4% on a year-over-year basis. Equities research analysts predict that Range Resources Corp. will post ($0.20) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.02 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.21%. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.42%.
Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Range Resources Corp. from a “neutral” rating to an “overweight” rating and set a $46.00 price target for the company in a research report on Friday. Vetr cut shares of Range Resources Corp. from a “strong-buy” rating to a “buy” rating and set a $43.75 target price for the company. in a research report on Monday, October 3rd. Nomura reaffirmed a “hold” rating and issued a $45.00 target price on shares of Range Resources Corp. in a research report on Monday, October 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $52.00 target price on shares of Range Resources Corp. in a research report on Friday, September 30th. Finally, GMP Securities initiated coverage on shares of Range Resources Corp. in a research report on Wednesday, September 28th. They issued a “buy” rating and a $47.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $44.31.
In other Range Resources Corp. news, COO Ray N. Walker, Jr. sold 13,350 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $37.53, for a total value of $501,025.50. Following the sale, the chief operating officer now owns 42,598 shares in the company, valued at approximately $1,598,702.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory Gene Maxwell acquired 1,000 shares of the stock in a transaction on Tuesday, September 27th. The stock was bought at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now owns 12,211 shares in the company, valued at approximately $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.
About Range Resources Corp.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corp. (NYSE:RRC).
Receive News & Ratings for Range Resources Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources Corp. and related companies with MarketBeat.com's FREE daily email newsletter.