Caxton Associates LLP Invests $392,000 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 bought a new stake in Range Resources Corporation (NYSE:RRC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,827 shares of the oil and gas exploration company's stock, valued at approximately $392,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after buying an additional 315 shares during the last quarter. Xponance Inc. lifted its stake 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 worth $1,099,000 after buying an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $2,636,000 after buying an additional 328 shares during the last quarter. Evergreen Capital Management LLC lifted its stake 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 worth $308,000 after buying an additional 351 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake 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 worth $83,000 after buying an additional 355 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

Shares of NYSE:RRC traded down $0.26 during midday trading on Thursday, reaching $35.29. 2,462,086 shares of the company's stock were exchanged, compared to its average volume of 2,735,766. 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's 50 day simple moving average is $35.18 and its two-hundred day simple moving average is $36.94. Range Resources Corporation has a 12 month low of $28.99 and a 12 month high of $43.50. The firm has a market capitalization of $8.40 billion, a PE ratio of 17.73, a price-to-earnings-growth 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 earnings per share 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 business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same period in the previous year, the business earned $0.46 EPS. 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 announced 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 12th. Range Resources's payout ratio is 18.09%.

Analyst Ratings Changes

RRC has been the subject of a number of analyst reports. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Roth Capital lowered shares of Range Resources from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. 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. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $45.00 target price on shares of Range Resources in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.45.

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.