Algert Global LLC Acquires 184,324 Shares of Range Resources Corporation $RRC

Algert Global LLC grew its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 54.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 524,602 shares of the oil and gas exploration company's stock after purchasing an additional 184,324 shares during the period. Algert Global LLC owned about 0.22% of Range Resources worth $19,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Range Resources in the 2nd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Range Resources during the second quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources in the fourth quarter valued at approximately $34,000. Root Financial Partners LLC boosted its holdings in shares of Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company's stock valued at $45,000 after purchasing an additional 276 shares during the period. Finally, Trust Co. of Vermont bought a new position in Range Resources in the second quarter worth approximately $45,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Up 0.5%

RRC opened at $41.25 on Tuesday. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 11.40 and a beta of 0.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12 month low of $32.68 and a 12 month high of $48.31. The stock has a fifty day moving average price of $38.18 and a 200-day moving average price of $40.13.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. During the same quarter last year, the company earned $0.66 earnings per share. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Range Resources Corporation will post 3.59 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources's payout ratio is currently 11.05%.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

RRC has been the topic of several research reports. Morgan Stanley reduced their price objective on Range Resources from $44.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 19th. Barclays lowered their target price on Range Resources from $43.00 to $40.00 and set an "equal weight" rating for the company in a report on Monday, August 17th. UBS Group restated a "neutral" rating on shares of Range Resources in a research note on Thursday, August 13th. Weiss Ratings downgraded Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Finally, Citigroup restated a "neutral" rating on shares of Range Resources in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.75.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source