Cramer Rosenthal Mcglynn LLC Grows Stake in Range Resources Corporation $RRC

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in Range Resources Corporation by 1.9%, acquiring an additional 8,893 shares, bringing its total holdings to 471,891 shares valued at approximately $18.8 million.
• Range Resources recently reported a quarterly earnings per share (EPS) of $0.66, slightly surpassing analysts' expectations, and had a revenue of $856.28 million compared to estimated revenue of $708.38 million.
• The company also announced a quarterly dividend of $0.09 per share, which represents a 1.1% dividend yield, and maintains a dividend payout ratio of 18.09%.

Cramer Rosenthal Mcglynn LLC raised its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 471,891 shares of the oil and gas exploration company's stock after buying an additional 8,893 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.20% of Range Resources worth $18,843,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC grew its holdings in Range Resources by 1,224.2% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 116,197 shares of the oil and gas exploration company's stock valued at $4,640,000 after buying an additional 107,422 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in Range Resources during the 1st quarter valued at $1,495,000. Jump Financial LLC purchased a new position in shares of Range Resources during the 1st quarter worth $367,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Range Resources during the 1st quarter worth $146,000. Finally, AlphaQuest LLC purchased a new position in shares of Range Resources during the 1st quarter worth $416,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Down 0.6%

Range Resources stock traded down $0.20 during midday trading on Friday, reaching $34.24. The stock had a trading volume of 1,928,658 shares, compared to its average volume of 2,369,049. Range Resources Corporation has a twelve month low of $27.55 and a twelve month high of $43.50. The stock has a market capitalization of $8.16 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 0.28 and a beta of 0.60. 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 $37.27.

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

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.1%. Range Resources's dividend payout ratio (DPR) is 18.09%.

Analyst Upgrades and Downgrades

RRC has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a research note on Tuesday, July 15th. Roth Capital lowered Range Resources from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. UBS Group reduced their price target on Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Bank of America increased their price target on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Mizuho increased their price target on Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued 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 target price 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.