Builder Investment Group Inc. ADV Reduces Holdings in Range Resources Corporation $RRC

Key Points

• Builder Investment Group Inc. ADV reduced its stake in Range Resources Corporation by 11.0%, now holding 74,145 shares valued at approximately $3,015,000 as of the latest reporting period.
• Several institutional investors have significantly increased their positions in Range Resources, with 98.93% of the stock now held by hedge funds and other institutions.
• Range Resources recently declared a quarterly dividend of $0.09 per share, representing a 1.0% yield, with a payout ratio of 18.09%.

Builder Investment Group Inc. ADV reduced its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 11.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,145 shares of the oil and gas exploration company's stock after selling 9,150 shares during the period. Builder Investment Group Inc. ADV's holdings in Range Resources were worth $3,015,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Wellington Management Group LLP purchased a new position in shares of Range Resources in the fourth quarter worth $33,684,000. King Luther Capital Management Corp lifted its stake in Range Resources by 2,522.3% in the 1st quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company's stock worth $32,888,000 after purchasing an additional 792,240 shares in the last quarter. AQR Capital Management LLC lifted its stake in Range Resources by 3,222.9% in the 1st quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company's stock worth $21,528,000 after purchasing an additional 522,910 shares in the last quarter. Nuveen LLC purchased a new stake in Range Resources in the 1st quarter worth $19,396,000. Finally, Beck Bode LLC purchased a new stake in shares of Range Resources in the first quarter worth about $15,651,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RRC has been the topic of several recent research reports. UBS Group decreased their price objective on Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Barclays upped their price target 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. Mizuho decreased their price target on shares of Range Resources from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. Scotiabank set a $46.00 price objective on Range Resources and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial decreased their price objective on Range Resources from $45.00 to $41.00 and set an "outperform" rating on the stock in a research report on Friday, September 19th. Seven investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $41.80.

Range Resources Stock Performance

Shares of Range Resources stock opened at $37.63 on Friday. The firm has a market cap of $8.96 billion, a P/E ratio of 18.91, a P/E/G ratio of 0.32 and a beta of 0.55. The stock's fifty day moving average price is $34.92 and its 200-day moving average price is $36.92. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12 month low of $28.99 and a 12 month high of $43.50.

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

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources's dividend payout ratio is presently 18.09%.

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.

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