Accurate Wealth Management LLC Buys New Stake in Range Resources Corporation $RRC

Key Points

• Accurate Wealth Management LLC acquired a new stake in Range Resources Corporation by purchasing 159,305 shares valued at approximately $5,999,000 during the 2nd quarter.
• Share prices of Range Resources currently range from a fifty-two week low of $28.99 to a high of $43.50, with a market capitalization of $8.51 billion.
• The company recently reported earnings of $0.66 per share, exceeding analyst expectations, with revenues of $856.28 million for the quarter.

Accurate Wealth Management LLC bought a new stake in Range Resources Corporation (NYSE:RRC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 159,305 shares of the oil and gas exploration company's stock, valued at approximately $5,999,000. Range Resources comprises approximately 0.9% of Accurate Wealth Management LLC's holdings, making the stock its 18th biggest holding. Accurate Wealth Management LLC owned approximately 0.07% of Range Resources at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Kopernik Global Investors LLC increased its holdings in Range Resources by 5.2% in the first quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock valued at $113,667,000 after buying an additional 140,043 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Range Resources by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company's stock valued at $85,899,000 after buying an additional 38,648 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its holdings in Range Resources by 1.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock valued at $57,803,000 after buying an additional 25,403 shares during the last quarter. Wellington Management Group LLP increased its holdings in Range Resources by 50.1% in the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company's stock valued at $56,103,000 after buying an additional 468,841 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its holdings in Range Resources by 21.9% in the first quarter. Jefferies Financial Group Inc. now owns 968,759 shares of the oil and gas exploration company's stock valued at $38,683,000 after buying an additional 173,785 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of RRC opened at $35.74 on Wednesday. Range Resources Corporation has a fifty-two week low of $28.99 and a fifty-two week high of $43.50. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.30 and a beta of 0.55. The firm has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $36.91. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. On average, equities research analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.09 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is presently 18.09%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RRC. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Mizuho decreased their price objective on shares of Range Resources from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Roth Capital downgraded shares of Range Resources from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $44.00 to $35.00 in a research note on Monday, August 18th. Barclays upped their price objective on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, Susquehanna upped their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Seven research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $41.80.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.

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