Engineers Gate Manager LP Has $7.34 Million Stock Position in Range Resources Corporation $RRC

Engineers Gate Manager LP increased its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 1,413.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,380 shares of the oil and gas exploration company's stock after acquiring an additional 184,335 shares during the quarter. Engineers Gate Manager LP owned 0.08% of Range Resources worth $7,341,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. King Luther Capital Management Corp grew its holdings in shares of Range Resources by 49.8% during the fourth quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company's stock valued at $45,202,000 after buying an additional 426,300 shares in the last quarter. Life Cycle Investment Partners Ltd purchased a new stake in Range Resources in the 4th quarter worth about $21,129,000. Bank of Nova Scotia acquired a new stake in Range Resources during the 2nd quarter worth about $2,220,000. Entropy Technologies LP boosted its position in Range Resources by 321.3% during the 1st quarter. Entropy Technologies LP now owns 52,114 shares of the oil and gas exploration company's stock worth $2,355,000 after acquiring an additional 39,745 shares during the period. Finally, Bornite Capital Management LP purchased a new position in Range Resources during the 4th quarter valued at about $28,208,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

RRC has been the topic of several research reports. Susquehanna dropped their price objective on shares of Range Resources from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 21st. Citigroup reissued a "neutral" rating on shares of Range Resources in a research note on Thursday, July 23rd. Zacks Research upgraded shares of Range Resources from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. UBS Group set a $42.00 price target on shares of Range Resources in a research note on Tuesday. Finally, The Goldman Sachs Group cut their price objective on Range Resources from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Range Resources presently has a consensus rating of "Hold" and an average target price of $43.88.

Insider Buying and Selling

In related news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the transaction, the director owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

Range Resources Stock Down 1.7%

Shares of RRC stock opened at $41.17 on Friday. The stock's 50 day simple moving average is $39.56 and its 200 day simple moving average is $40.57. Range Resources Corporation has a twelve month low of $32.68 and a twelve month high of $48.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 11.37 and a beta of 0.43.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The firm had revenue of $759.58 million during the quarter, compared to analysts' expectations of $744.78 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company's revenue was down 2.7% on a year-over-year basis. As a group, research analysts predict that Range Resources Corporation will post 3.62 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is presently 11.05%.

Range Resources Profile

Range Resources Corporation NYSE: RRC is an independent natural gas, natural gas liquids (NGLs) and oil exploration and production company. Its activities include acquiring, developing and operating unconventional properties, with a primary focus on the Marcellus Shale in the Appalachian Basin.

The company's production portfolio is centered on natural gas, along with NGLs such as ethane, propane, butane and natural gasoline, as well as condensate and oil. Range Resources also manages related gathering, processing, transportation and marketing activities to move its products from production areas to end markets.

Founded in 1976, Range Resources has built its operations through exploration, development and acquisitions in U.S.

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