Ameriprise Financial Inc. cut its position in Range Resources Corp. (NYSE:RRC) by 18.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 96,157 shares of the oil and gas exploration company’s stock after selling 22,404 shares during the period. Ameriprise Financial Inc. owned about 0.06% of Range Resources Corp. worth $4,149,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of Range Resources Corp. during the second quarter worth about $116,394,000. British Airways Pensions Investment Management Ltd bought a new position in shares of Range Resources Corp. during the second quarter worth about $23,916,000. Bank of Montreal Can bought a new position in shares of Range Resources Corp. during the second quarter worth about $23,563,000. Phocas Financial Corp. bought a new position in shares of Range Resources Corp. during the first quarter worth about $7,610,000. Finally, Scout Investments Inc. bought a new position in shares of Range Resources Corp. during the second quarter worth about $8,720,000.
Range Resources Corp. (NYSE:RRC) traded down 0.16% during midday trading on Tuesday, reaching $37.69. The company had a trading volume of 297,147 shares. Range Resources Corp. has a one year low of $19.21 and a one year high of $46.96. The company’s market capitalization is $6.28 billion. The stock’s 50 day moving average is $39.19 and its 200 day moving average is $40.54.
Range Resources Corp. (NYSE:RRC) last posted its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. The firm had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Equities research analysts forecast that Range Resources Corp. will post ($0.20) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. Range Resources Corp.’s payout ratio is presently -1.42%.
RRC has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Range Resources Corp. from a “neutral” rating to an “overweight” rating and set a $46.00 target price on the stock in a report on Friday, October 7th. Jefferies Group reiterated a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Range Resources Corp. in a report on Sunday, July 10th. Vetr upgraded Range Resources Corp. from a “hold” rating to a “buy” rating and set a $45.28 price target on the stock in a report on Monday, July 4th. Zacks Investment Research downgraded Range Resources Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $52.00 price target on shares of Range Resources Corp. in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.31.
In other Range Resources Corp. news, COO Ray N. Walker, Jr. sold 13,350 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $37.53, for a total transaction of $501,025.50. Following the sale, the chief operating officer now owns 42,598 shares of the company’s stock, valued at $1,598,702.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Gene Maxwell bought 1,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were bought at an average cost of $37.00 per share, for a total transaction of $37,000.00. Following the purchase, the director now owns 12,211 shares of the company’s stock, valued at approximately $451,807. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
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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