AQR Capital Management LLC Has $21.53 Million Position in Range Resources Corporation $RRC

AQR Capital Management LLC grew its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 3,222.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,135 shares of the oil and gas exploration company's stock after purchasing an additional 522,910 shares during the period. AQR Capital Management LLC owned approximately 0.23% of Range Resources worth $21,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PDT Partners LLC purchased a new position in shares of Range Resources during the first quarter valued at about $1,727,000. Cubist Systematic Strategies LLC purchased a new position in Range Resources during the first quarter valued at $14,559,000. Graham Capital Management L.P. grew its stake in shares of Range Resources by 41.1% in the 1st quarter. Graham Capital Management L.P. now owns 232,045 shares of the oil and gas exploration company's stock worth $9,266,000 after buying an additional 67,536 shares in the last quarter. Energy Income Partners LLC boosted its stake in shares of Range Resources by 3.8% during the 1st quarter. Energy Income Partners LLC now owns 149,677 shares of the oil and gas exploration company's stock worth $5,977,000 after purchasing an additional 5,512 shares during the period. Finally, Vident Advisory LLC raised its holdings in shares of Range Resources by 1.8% in the 1st quarter. Vident Advisory LLC now owns 23,409 shares of the oil and gas exploration company's stock valued at $935,000 after purchasing an additional 407 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Up 1.5%

Shares of NYSE:RRC traded up $0.51 during midday trading on Wednesday, reaching $34.81. The company had a trading volume of 2,471,989 shares, compared to its average volume of 2,508,011. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.29 and a beta of 0.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The company has a fifty day simple moving average of $35.52 and a two-hundred day simple moving average of $37.03. Range Resources Corporation has a 1-year low of $28.00 and a 1-year high of $43.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the business earned $0.46 earnings per share. Research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RRC shares. Roth Capital downgraded shares of Range Resources from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $44.00 to $35.00 in a report on Monday, August 18th. Barclays increased 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 note on Monday, July 7th. Bank of America raised their target price on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Mizuho lifted their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, UBS Group dropped their price objective on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.75.

Range Resources Company 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.