Vanguard Group Inc. Has $967.59 Million Position in Range Resources Corporation (NYSE:RRC)

Key Points

• Vanguard Group Inc. has reduced its stake in Range Resources Corporation by 1.1%, owning approximately $967.59 million worth of shares as of the latest SEC filing.
• Institutional investors hold a significant majority, owning 98.93% of the company's stock, indicating strong confidence in the company.
• Range Resources achieved an EPS of $0.66 for the last quarter, exceeding analyst expectations, with projected earnings for the fiscal year anticipated at 2.02 EPS.

Vanguard Group Inc. cut its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,232,224 shares of the oil and gas exploration company's stock after selling 268,078 shares during the period. Vanguard Group Inc. owned approximately 10.14% of Range Resources worth $967,593,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of RRC. Dimensional Fund Advisors LP lifted its holdings in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after acquiring an additional 624,955 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock worth $181,961,000 after acquiring an additional 2,104,304 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock worth $80,554,000 after acquiring an additional 605,315 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings 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 last quarter. Finally, Sagefield Capital LP raised its holdings in Range Resources by 21.7% in the 4th quarter. Sagefield Capital LP now owns 1,312,689 shares of the oil and gas exploration company's stock valued at $47,231,000 after buying an additional 233,906 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the sale, the director owned 13,663 shares of the company's stock, valued at approximately $548,706.08. This trade represents a 23.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

Range Resources Trading Up 0.5%

Shares of RRC stock traded up $0.18 during trading hours on Wednesday, hitting $34.36. 2,126,828 shares of the company were exchanged, compared to its average volume of 2,804,458. The firm has a market cap of $8.18 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.27 and a beta of 0.60. Range Resources Corporation has a fifty-two week low of $27.55 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The company has a 50 day simple moving average of $38.15 and a two-hundred day simple moving average of $37.62.

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 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.46 EPS. Equities analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is presently 18.09%.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of research reports. UBS Group raised their price objective on shares of Range Resources from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Stephens reiterated an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Bank of America raised their price objective on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a report on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.