Assenagon Asset Management S.A. Acquires Shares of 16,649 Range Resources Corp. (NYSE:RRC)

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Assenagon Asset Management S.A. acquired a new stake in shares of Range Resources Corp. (NYSE:RRC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 16,649 shares of the oil and gas exploration company’s stock, valued at approximately $94,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Alliance Advisory Group LLC bought a new position in shares of Range Resources during the 1st quarter valued at about $25,000. Pictet Asset Management Ltd. purchased a new stake in shares of Range Resources during the 1st quarter valued at about $25,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Range Resources during the 1st quarter valued at about $25,000. Cetera Advisor Networks LLC raised its position in shares of Range Resources by 27.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 14,521 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 3,150 shares in the last quarter. Finally, Hapanowicz & Associates Financial Services Inc raised its position in shares of Range Resources by 13.7% during the 1st quarter. Hapanowicz & Associates Financial Services Inc now owns 16,600 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 2,000 shares in the last quarter.

Shares of RRC stock opened at $6.46 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $1.67 billion, a P/E ratio of -1.02 and a beta of 2.66. The company’s 50-day simple moving average is $6.30 and its two-hundred day simple moving average is $4.65. Range Resources Corp. has a one year low of $1.61 and a one year high of $8.25.

Range Resources (NYSE:RRC) last issued its earnings results on Thursday, April 30th. The oil and gas exploration company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. The business had revenue of $693.90 million for the quarter, compared to the consensus estimate of $608.45 million. Range Resources had a negative net margin of 56.71% and a positive return on equity of 0.50%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts expect that Range Resources Corp. will post -0.23 EPS for the current fiscal year.

Several analysts have recently issued reports on RRC shares. Mizuho started coverage on shares of Range Resources in a research report on Wednesday, July 22nd. They set a “neutral” rating and a $5.50 target price on the stock. Credit Suisse Group upped their target price on shares of Range Resources from $1.00 to $2.00 and gave the company an “underperform” rating in a research report on Friday, May 1st. Citigroup upped their target price on shares of Range Resources from $2.50 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Wells Fargo & Co started coverage on shares of Range Resources in a research report on Thursday, June 25th. They set an “equal weight” rating and a $11.00 target price on the stock. Finally, Bank of America restated an “underperform” rating and set a $4.20 target price (up from $3.60) on shares of Range Resources in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $4.62.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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