Nationwide Fund Advisors lowered its position in shares of Range Resources Corp. (NYSE:RRC) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 48,213 shares of the oil and gas exploration company’s stock after selling 894 shares during the period. Nationwide Fund Advisors’ holdings in Range Resources Corp. were worth $2,080,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new position in Range Resources Corp. during the second quarter worth approximately $116,394,000. British Airways Pensions Investment Management Ltd bought a new position in Range Resources Corp. during the second quarter worth approximately $23,916,000. Bank of Montreal Can bought a new position in Range Resources Corp. during the second quarter worth approximately $23,563,000. Phocas Financial Corp. bought a new position in Range Resources Corp. during the first quarter worth approximately $7,610,000. Finally, Scout Investments Inc. bought a new position in Range Resources Corp. during the second quarter worth approximately $8,720,000.
Shares of Range Resources Corp. (NYSE:RRC) traded up 3.15% during trading on Thursday, reaching $39.24. 1,780,822 shares of the company were exchanged. The company has a 50 day moving average price of $39.33 and a 200-day moving average price of $40.36. Range Resources Corp. has a one year low of $19.21 and a one year high of $46.96. The stock’s market capitalization is $6.54 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) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The company had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same quarter last year, the business earned $0.01 earnings per share. Range Resources Corp.’s revenue was down 10.4% on a year-over-year basis. Equities analysts predict that Range Resources Corp. will post ($0.20) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Wednesday, September 14th. Range Resources Corp.’s payout ratio is currently -1.42%.
RRC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Range Resources Corp. from a “neutral” rating to an “overweight” rating and set a $46.00 price objective on the stock in a research note on Friday, October 7th. Jefferies Group restated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Range Resources Corp. in a research report on Sunday, July 10th. Vetr upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $45.28 price target on the stock in a research report on Monday, July 4th. Zacks Investment Research downgraded shares of Range Resources Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Imperial Capital upgraded shares of Range Resources Corp. from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $45.00 to $55.00 in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.31.
In related news, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 42,598 shares in the company, valued at $1,598,702.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Gene Maxwell purchased 1,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 12,211 shares of the company’s stock, valued at approximately $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is owned by corporate insiders.
Range Resources Corp. Company Profile
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.
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