Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 33,378 Range Resources Corporation (NYSE:RRC)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 33,378 shares of the oil and gas exploration company's stock, valued at approximately $1,333,000.

Several other hedge funds also recently added to or reduced their stakes in RRC. Commonwealth Equity Services LLC grew its holdings in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after purchasing an additional 379 shares during the last quarter. LPL Financial LLC boosted its position in Range Resources by 23.2% in the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after buying an additional 21,440 shares during the period. Pictet Asset Management Holding SA boosted its position in Range Resources by 5.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 34,114 shares of the oil and gas exploration company's stock valued at $1,227,000 after buying an additional 1,891 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Range Resources by 22.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 12,895 shares of the oil and gas exploration company's stock valued at $464,000 after buying an additional 2,386 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in Range Resources in the 4th quarter valued at about $33,684,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Down 3.1%

Shares of NYSE RRC traded down $1.13 during trading hours on Friday, hitting $35.59. 2,578,771 shares of the stock were exchanged, compared to its average volume of 2,923,468. 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 company has a market cap of $8.48 billion, a PE ratio of 17.88, a PEG ratio of 0.29 and a beta of 0.60. The firm has a fifty day moving average price of $38.84 and a 200-day moving average price of $37.96. Range Resources Corporation has a 12 month low of $27.29 and a 12 month high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted 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. The firm had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the previous year, the business posted $0.46 EPS. On average, sell-side analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors 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 1.0%. The ex-dividend date was Friday, June 13th. Range Resources's payout ratio is 18.09%.

Insider Activity

In related news, Director James M. Funk sold 13,582 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the transaction, the director owned 54,394 shares in the company, valued at $1,905,421.82. The trade was a 19.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the transaction, the senior vice president owned 13,800 shares of the company's stock, valued at approximately $560,556. This trade represents a 40.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,080 shares of company stock worth $2,984,479 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RRC has been the subject of several research reports. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the company a "sector perform" rating in a research report on Friday, July 11th. Bank of America boosted their price objective on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. UBS Group boosted their price objective on shares of Range Resources from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $45.00 price objective on shares of Range Resources in a research report on Tuesday, July 15th. Finally, Morgan Stanley set a $41.00 price objective on shares of Range Resources in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Range Resources has a consensus rating of "Hold" and an average price target of $43.37.

About Range Resources

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.