Trexquant Investment LP Sells 67,348 Shares of Range Resources Corporation $RRC

Key Points

• Trexquant Investment LP reduced its holdings in Range Resources Corporation by 45.0%, owning 82,430 shares valued at $3,291,000 after selling 67,348 shares in the first quarter.
• Range Resources reported $0.66 earnings per share (EPS), exceeding the expected $0.65, with revenues of $856.28 million in the latest quarter.
• The company announced a quarterly dividend of $0.09 per share, representing a 1.0% yield with a payout ratio of 18.09%.

Trexquant Investment LP reduced its position in Range Resources Corporation (NYSE:RRC - Free Report) by 45.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,430 shares of the oil and gas exploration company's stock after selling 67,348 shares during the period. Trexquant Investment LP's holdings in Range Resources were worth $3,291,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in Range Resources during the 1st quarter valued at $33,000. Bessemer Group Inc. lifted its stake in 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 valued at $39,000 after acquiring an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Range Resources during the 1st quarter valued at $39,000. Fifth Third Bancorp lifted its stake in Range Resources by 20.6% during 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 acquiring an additional 355 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Range Resources by 124.9% during the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after acquiring an additional 1,434 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RRC shares. Bank of America raised their price objective on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada reiterated a "sector perform" rating and set a $45.00 target price on shares of Range Resources in a research note on Tuesday, July 15th. Mizuho lifted 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. Wall Street Zen lowered Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, Scotiabank set a $46.00 target price on Range Resources and gave the company a "sector perform" rating in a report on Friday, July 11th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.75.

Range Resources Price Performance

Shares of NYSE RRC traded down $0.26 during midday trading on Friday, hitting $34.68. 2,998,652 shares of the company's stock were exchanged, compared to its average volume of 2,330,736. Range Resources Corporation has a 12-month low of $27.55 and a 12-month high of $43.50. 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 has a market cap of $8.26 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.29 and a beta of 0.55. The business's fifty day moving average price is $35.83 and its two-hundred day moving average price is $37.11.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data 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. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The company had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, research analysts forecast that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

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