Eaton Vance Management lowered its holdings in shares of Range Resources Corporation (NYSE:RRC) by 37.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,502 shares of the oil and gas exploration company’s stock after selling 223,147 shares during the period. Eaton Vance Management owned about 0.15% of Range Resources Corporation worth $8,469,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wisconsin Investment Board raised its position in Range Resources Corporation by 18.7% during the second quarter. State of Wisconsin Investment Board now owns 210,607 shares of the oil and gas exploration company’s stock worth $4,880,000 after acquiring an additional 33,130 shares during the last quarter. Matthew 25 Management Corp raised its position in Range Resources Corporation by 166.7% during the second quarter. Matthew 25 Management Corp now owns 80,000 shares of the oil and gas exploration company’s stock worth $1,854,000 after acquiring an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in Range Resources Corporation by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 2,726,118 shares of the oil and gas exploration company’s stock worth $63,163,000 after acquiring an additional 194,141 shares during the last quarter. Rovida Advisors Inc. acquired a new position in Range Resources Corporation during the second quarter worth about $4,634,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Range Resources Corporation during the first quarter worth about $440,000. Institutional investors own 95.34% of the company’s stock.
Shares of Range Resources Corporation (NYSE:RRC) opened at 17.92 on Wednesday. The stock has a market capitalization of $4.37 billion, a P/E ratio of 121.08 and a beta of 0.94. The firm’s 50-day moving average is $18.33 and its 200 day moving average is $23.63. Range Resources Corporation has a 1-year low of $16.00 and a 1-year high of $42.80.
Range Resources Corporation (NYSE:RRC) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm had revenue of $565.00 million for the quarter, compared to the consensus estimate of $544.08 million. During the same quarter in the prior year, the company posted ($1.35) earnings per share. The firm’s revenue was up 55.8% on a year-over-year basis. On average, analysts expect that Range Resources Corporation will post $0.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.45%. Range Resources Corporation’s dividend payout ratio is currently 100.01%.
RRC has been the subject of a number of research reports. Citigroup Inc. cut their target price on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) cut shares of Range Resources Corporation from a “conviction-buy” rating to a “buy” rating and set a $42.50 target price for the company. in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, July 17th. BMO Capital Markets lowered their price target on shares of Range Resources Corporation from $35.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Finally, Jefferies Group LLC set a $36.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources Corporation currently has a consensus rating of “Buy” and an average price target of $38.33.
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In other news, Director Mary Ralph Lowe acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steffen E. Palko acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now directly owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Insiders purchased 26,000 shares of company stock worth $449,800 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.
Range Resources Corporation Company Profile
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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