10,414 Shares in Range Resources Corporation $RRC Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC has acquired a new stake in Range Resources Corporation by purchasing 10,414 shares worth approximately $416,000 during the first quarter.
• Range Resources reported $0.66 EPS for the latest quarter, exceeding analysts' estimates, with a revenue of $856.28 million compared to the expected $708.38 million.
• The company has a dividend yield of 1.1% and recently declared a quarterly dividend of $0.09 per share, indicating a payout ratio of 18.09%.

AlphaQuest LLC acquired a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,414 shares of the oil and gas exploration company's stock, valued at approximately $416,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRC. Hollencrest Capital Management acquired a new stake in Range Resources during the first quarter worth about $33,000. Bessemer Group Inc. raised its stake in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after acquiring an additional 315 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Range Resources during the first quarter worth about $39,000. Fifth Third Bancorp raised its stake in Range Resources by 20.6% during the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after acquiring an additional 355 shares during the period. Finally, UMB Bank n.a. raised its stake in Range Resources by 124.9% during the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock worth $103,000 after acquiring an additional 1,434 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays upped their target price on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. UBS Group decreased their target price on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Roth Capital cut shares of Range Resources from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. Bank of America upped their target price on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Range Resources presently has an average rating of "Hold" and an average target price of $42.75.

Range Resources Price Performance

Shares of NYSE RRC traded down $0.20 during mid-day trading on Monday, reaching $34.24. 1,928,658 shares of the company traded hands, compared to its average volume of 2,336,544. Range Resources Corporation has a fifty-two week low of $27.55 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $8.16 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 0.29 and a beta of 0.55. The stock has a fifty day simple moving average of $36.36 and a 200-day simple moving average of $37.22.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same quarter last year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 12th. Range Resources's dividend payout ratio (DPR) is currently 18.09%.

About Range Resources

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.