Range Resources Corporation $RRC Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd. cut its Range Resources position by 93.2% in the second quarter, selling 132,550 shares and retaining 9,733 shares valued at approximately $362,000. Institutional investors and hedge funds collectively own 98.93% of the stock.
• Range Resources reported quarterly EPS of $0.79, exceeding the $0.66 analyst consensus, while revenue of $759.58 million surpassed expectations but declined 2.7% year over year. The company also declared a quarterly dividend of $0.10, representing a 1.0% annualized yield.
• Analysts maintain a largely neutral view, with the stock carrying an average “Hold” rating and a consensus price target of $44.29. RRC recently traded at $38.88, compared with a 12-month range of $32.68 to $48.31.

WINTON GROUP Ltd lowered its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 93.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,733 shares of the oil and gas exploration company's stock after selling 132,550 shares during the quarter. WINTON GROUP Ltd's holdings in Range Resources were worth $362,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Range Resources in the second quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Range Resources during the second quarter worth about $31,000. Ameritas Advisory Services LLC purchased a new position in Range Resources during the second quarter worth about $44,000. Root Financial Partners LLC lifted its position in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company's stock valued at $45,000 after purchasing an additional 276 shares during the period. Finally, Trust Co. of Vermont acquired a new stake in Range Resources in the second quarter valued at about $45,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Price Performance

RRC stock opened at $38.88 on Thursday. The firm has a 50 day moving average of $39.74 and a 200-day moving average of $40.62. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 10.74 and a beta of 0.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources Corporation has a 12-month low of $32.68 and a 12-month high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to analysts' expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company's revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, equities analysts expect that Range Resources Corporation will post 3.65 EPS for the current fiscal year.

Range Resources Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on RRC. Stephens boosted their target price on Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Stifel Nicolaus started coverage on Range Resources in a report on Thursday, September 10th. They issued a "hold" rating and a $46.00 price target for the company. Morgan Stanley decreased their price target on Range Resources from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 19th. Weiss Ratings lowered Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded Range Resources from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $44.29.

Insider Buying and Selling at Range Resources

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

About Range Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.