Fox Run Management L.L.C. Takes Position in Range Resources Corporation $RRC

Key Points

• Fox Run Management L.L.C. has acquired a new stake in Range Resources Corporation, purchasing 17,200 shares valued at approximately $687,000.
• Range Resources reported a quarterly earnings per share of $0.66, exceeding expectations and generating revenue of $856.28 million for the same period.
• The company's stock has a market cap of $8.20 billion, a P/E ratio of 17.30, and recently experienced an analyst rating with a consensus target price of $43.26.

Fox Run Management L.L.C. acquired a new stake in Range Resources Corporation (NYSE:RRC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,200 shares of the oil and gas exploration company's stock, valued at approximately $687,000.

Several other hedge funds have also recently added to or reduced their stakes in RRC. Bessemer Group Inc. lifted its holdings in shares of 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 during the period. Xponance Inc. increased its position in Range Resources by 1.2% during the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock worth $1,099,000 after purchasing an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Range Resources by 0.5% during 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 purchasing an additional 328 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 20.6% in the 1st 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 last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Range Resources by 5.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company's stock valued at $266,000 after purchasing an additional 360 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RRC shares. Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Bank of America upped 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. Mizuho raised their price objective on Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Scotiabank set a $46.00 price objective on Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Roth Capital downgraded 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. Seven 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.75.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the sale, the director owned 13,663 shares in the company, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

Range Resources Stock Up 0.4%

Shares of Range Resources stock traded up $0.13 during trading hours on Friday, hitting $33.32. 511,653 shares of the company's stock traded hands, compared to its average volume of 2,856,979. Range Resources Corporation has a twelve month low of $27.55 and a twelve month high of $43.50. The company has a market cap of $7.94 billion, a PE ratio of 16.77, a PEG ratio of 0.27 and a beta of 0.60. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $37.51 and a 200-day simple moving average of $37.46.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is 18.09%.

Range Resources 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.