Quantbot Technologies LP Takes Position in Range Resources Corporation $RRC

Key Points

• Quantbot Technologies LP has acquired a new stake in Range Resources Corporation, purchasing 19,689 shares valued at approximately $786,000 during the first quarter.
• The stock of Range Resources has a consensus rating of "Hold" from analysts, with a consensus target price of $42.75.
• Range Resources recently announced a quarterly dividend of $0.09 per share, representing an annual yield of 1.1% and a payout ratio of 18.09%.

Quantbot Technologies LP purchased a new position in Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,689 shares of the oil and gas exploration company's stock, valued at approximately $786,000.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Range Resources by 50.1% during the 1st quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company's stock worth $56,103,000 after buying an additional 468,841 shares during the period. Aptus Capital Advisors LLC raised its stake in Range Resources by 26.7% during the 1st quarter. Aptus Capital Advisors LLC now owns 173,320 shares of the oil and gas exploration company's stock worth $6,921,000 after buying an additional 36,498 shares during the period. Brooklyn Investment Group raised its stake in Range Resources by 456.4% during the 1st quarter. Brooklyn Investment Group now owns 4,468 shares of the oil and gas exploration company's stock worth $178,000 after buying an additional 3,665 shares during the period. Algert Global LLC acquired a new stake in Range Resources during the 1st quarter worth $3,838,000. Finally, Alliance Wealth Advisors LLC UT raised its stake in Range Resources by 2.4% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 20,449 shares of the oil and gas exploration company's stock worth $817,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on RRC shares. Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Susquehanna lifted their price target on Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Scotiabank set a $46.00 price target on Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $45.00 price target on shares of Range Resources in a research note on Tuesday, July 15th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Range Resources has a consensus rating of "Hold" and a consensus target price of $42.75.

Range Resources Stock Down 0.6%

Shares of RRC traded down $0.20 during midday trading on Friday, hitting $34.24. The stock had a trading volume of 1,928,658 shares, compared to its average volume of 2,369,049. The company has a 50 day simple moving average of $36.50 and a two-hundred day simple moving average of $37.26. Range Resources Corporation has a twelve month low of $27.55 and a twelve month high of $43.50. The firm has a market cap of $8.16 billion, a price-to-earnings 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 current ratio of 0.55 and a quick ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $856.28 million during 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 last year, the company earned $0.46 EPS. On average, analysts anticipate 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. Stockholders of record on Friday, September 12th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. Range Resources's dividend payout ratio (DPR) is presently 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.