Caxton Associates LLP Takes Position in Range Resources Corporation $RRC

Key Points

• Caxton Associates LLP has invested approximately $392,000 in Range Resources Corporation by acquiring 9,827 shares in the first quarter.
• Range Resources reported a quarterly earnings per share of $0.66, beating analysts' expectations, with revenues reaching $856.28 million.
• The company declared a quarterly dividend of $0.09 per share, which translates to an annual yield of 1.0%.

Caxton Associates LLP purchased a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,827 shares of the oil and gas exploration company's stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position 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 valued at $39,000 after buying an additional 315 shares during the period. Xponance Inc. grew its position in shares of Range Resources by 1.2% in the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock valued at $1,099,000 after purchasing an additional 326 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Range Resources by 0.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company's stock valued at $2,636,000 after purchasing an additional 328 shares during the period. Evergreen Capital Management LLC grew its position in shares of Range Resources by 4.8% in the first quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company's stock valued at $308,000 after purchasing an additional 351 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays lifted their target price on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Susquehanna lifted their target price on shares of Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Bank of America lifted their target price on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, UBS Group dropped their target price on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.45.

Range Resources Trading Down 0.6%

RRC stock traded down $0.20 during trading on Monday, reaching $35.11. 3,746,518 shares of the stock were exchanged, compared to its average volume of 2,635,638. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $35.32 and a 200-day moving average price of $36.97. Range Resources Corporation has a 1 year low of $28.99 and a 1 year high of $43.50. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 0.30 and a beta of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, topping 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 company had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

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 paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 12th. Range Resources's payout ratio is 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.