XTX Topco Ltd acquired a new position in shares of Range Resources Corporation (NYSE:RRC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,263 shares of the oil and gas exploration company's stock, valued at approximately $2,207,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. S&CO Inc. purchased a new position in shares of Range Resources during the first quarter valued at approximately $1,249,000. Essex Investment Management Co. LLC lifted its stake in shares of Range Resources by 7,072.0% during the 1st quarter. Essex Investment Management Co. LLC now owns 78,247 shares of the oil and gas exploration company's stock worth $3,124,000 after purchasing an additional 77,156 shares during the period. Fielder Capital Group LLC boosted its holdings in shares of Range Resources by 4.5% during the first quarter. Fielder Capital Group LLC now owns 117,401 shares of the oil and gas exploration company's stock worth $4,688,000 after purchasing an additional 5,008 shares during the last quarter. Nkcfo LLC purchased a new stake in shares of Range Resources in the first quarter valued at $3,686,000. Finally, TCW Group Inc. increased its stake in shares of Range Resources by 51.8% during the 1st quarter. TCW Group Inc. now owns 60,697 shares of the oil and gas exploration company's stock valued at $2,424,000 after acquiring an additional 20,708 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.
Range Resources Stock Performance
Shares of NYSE:RRC traded down $1.13 during trading on Friday, reaching $35.59. 2,578,771 shares of the company's stock traded hands, compared to its average volume of 2,928,504. The stock has a market capitalization of $8.48 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.29 and a beta of 0.63. Range Resources Corporation has a 12 month low of $27.29 and a 12 month high of $43.50. The company has a 50 day moving average of $38.92 and a 200-day moving average of $37.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55.
Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly 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. The business had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. During the same period in the prior year, the firm earned $0.46 EPS. On average, equities analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.
Range Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's dividend payout ratio (DPR) is 18.09%.
Insiders Place Their Bets
In other news, VP Ashley Kavanaugh sold 12,880 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the transaction, the vice president directly owned 1,723 shares in the company, valued at approximately $67,197. The trade was a 88.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the completion of the sale, the chief executive officer owned 58,431 shares in the company, valued at approximately $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is owned by company insiders.
Analyst Ratings Changes
Several brokerages recently weighed in on RRC. UBS Group increased their target price on Range Resources from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday. Susquehanna raised their price target on shares of Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Morgan Stanley set a $41.00 price objective on shares of Range Resources in a research note on Tuesday, April 15th. Bank of America raised their target price on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $43.37.
View Our Latest Stock Report on RRC
Range Resources Profile
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Free Report)
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.
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