Sciencast Management LP Buys Shares of 18,354 Range Resources Corporation $RRC

Key Points

• Sciencast Management LP has invested $733,000 in Range Resources Corporation, acquiring 18,354 shares in the first quarter.
• Range Resources stock is currently rated as a "Hold" by most analysts, with a consensus target price of $42.75 per share after several recent price adjustments.
• The company recently announced a quarterly dividend of $0.09 per share, yielding annualized returns of 1.1% for investors.

Sciencast Management LP acquired a new position in Range Resources Corporation (NYSE:RRC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,354 shares of the oil and gas exploration company's stock, valued at approximately $733,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Range Resources by 98.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock worth $720,000 after acquiring an additional 8,941 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Range Resources by 24.5% in the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock worth $15,249,000 after acquiring an additional 83,353 shares during the period. Informed Momentum Co LLC acquired a new stake in shares of Range Resources in the first quarter worth $3,575,000. Advisor Resource Council acquired a new stake in shares of Range Resources in the first quarter worth $622,000. Finally, Goehring & Rozencwajg Associates LLC increased its stake in shares of Range Resources by 1.8% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock worth $57,803,000 after acquiring an additional 25,403 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Price Performance

RRC stock traded up $0.17 during mid-day trading on Friday, reaching $35.35. The company's stock had a trading volume of 3,566,181 shares, compared to its average volume of 2,865,858. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company's 50 day moving average is $35.45 and its two-hundred day moving average is $37.01. Range Resources Corporation has a fifty-two week low of $28.91 and a fifty-two week high of $43.50. The stock has a market cap of $8.42 billion, a PE ratio of 17.76, a P/E/G ratio of 0.29 and a beta of 0.55.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 12th. Range Resources's dividend payout ratio (DPR) is 18.09%.

Analysts Set New Price Targets

RRC has been the topic of several analyst reports. Roth Capital lowered shares of Range Resources from a "buy" rating to a "neutral" rating and dropped their price target for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Mizuho raised their price target on shares of Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a research report on Tuesday, July 15th. Barclays raised their price target on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Scotiabank set a $46.00 price target on shares of Range Resources and gave the company a "sector perform" rating in a research report on Friday, July 11th. 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.75.

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.