77,013 Shares in Range Resources Corp. (NYSE:RRC) Purchased by Creative Planning

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Creative Planning bought a new position in shares of Range Resources Corp. (NYSE:RRC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 77,013 shares of the oil and gas exploration company’s stock, valued at approximately $434,000.

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 stake in Range Resources in the first quarter valued at approximately $25,000. Pictet Asset Management Ltd. bought a new stake in Range Resources in the first quarter valued at approximately $25,000. Nomura Asset Management Co. Ltd. bought a new stake in Range Resources in the first quarter valued at approximately $25,000. Cetera Advisor Networks LLC raised its stake in Range Resources by 27.7% in the first 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 during the period. Finally, Hapanowicz & Associates Financial Services Inc raised its stake in Range Resources by 13.7% in the first 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 during the period.

Several research firms have issued reports on RRC. Mizuho began coverage on Range Resources in a research note on Wednesday, July 22nd. They issued a “neutral” rating and a $5.50 price objective on the stock. Bank of America restated an “underperform” rating and issued a $4.20 price objective (up previously from $3.60) on shares of Range Resources in a research note on Friday, May 1st. Citigroup increased their target price on Range Resources from $2.50 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Morgan Stanley lowered their target price on Range Resources from $3.00 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, April 30th. Finally, Credit Suisse Group increased their target price on Range Resources from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Friday, May 1st. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. Range Resources presently has an average rating of “Hold” and a consensus target price of $4.62.

Shares of NYSE:RRC opened at $6.46 on Friday. The company has a market capitalization of $1.67 billion, a P/E ratio of -1.02 and a beta of 2.66. Range Resources Corp. has a 1 year low of $1.61 and a 1 year high of $8.25. 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 business’s 50 day simple moving average is $6.30 and its 200 day simple moving average is $4.65.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas exploration company reported $0.04 earnings per share (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 positive return on equity of 0.50% and a negative net margin of 56.71%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Range Resources Corp. will post -0.23 EPS for the current fiscal year.

Range Resources 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.

Read More: What is a Leveraged Buyout (LBO)?

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

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