Range Resources Corporation $RRC Shares Sold by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. sold 21,232 shares of Range Resources Corporation, reducing its holdings by 34.8%, leaving it with 39,865 shares valued at approximately $1.59 million.
• Several institutional investors increased their positions in Range Resources, with Wellington Management Group leading with a 50.1% boost during the first quarter, now owning over 1.4 million shares.
• Range Resources reported a quarterly EPS of $0.66, surpassing estimates, and declared a quarterly dividend of $0.09 per share with a dividend yield of 1.1%.

Capital Fund Management S.A. trimmed its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 34.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,865 shares of the oil and gas exploration company's stock after selling 21,232 shares during the quarter. Capital Fund Management S.A.'s holdings in Range Resources were worth $1,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in shares of Range Resources during the first quarter worth about $33,000. Bessemer Group Inc. grew its holdings in Range Resources by 48.0% during the 1st 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 in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Range Resources during the 1st quarter worth approximately $39,000. Fifth Third Bancorp grew its holdings in Range Resources by 20.6% during the 1st 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 in the last quarter. Finally, UMB Bank n.a. grew its holdings in Range Resources by 124.9% during the 1st 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 in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Price Performance

Range Resources stock traded down $0.20 during midday trading on Friday, reaching $34.24. The company's stock had a trading volume of 1,928,658 shares, 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 quick ratio of 0.55 and a current ratio of 0.55. The stock's 50 day simple moving average is $36.50 and its 200 day simple moving average is $37.25. The firm has a market capitalization of $8.16 billion, a PE ratio of 17.21, a P/E/G ratio of 0.29 and a beta of 0.55.

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

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given 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 presently 18.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RRC shares. Mizuho boosted their target price on shares of Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Roth Capital cut shares of Range Resources from a "buy" rating to a "neutral" rating and lowered their target price for the company from $44.00 to $35.00 in a report on Monday, August 18th. Royal Bank Of Canada restated a "sector perform" rating and issued a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Bank of America upped their price objective on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group decreased their price objective on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $42.75.

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.