Zeke Capital Advisors LLC purchased a new stake in Range Resources Corp. (NYSE:RRC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 22,652 shares of the oil and gas exploration company’s stock, valued at approximately $386,000.
A number of other hedge funds have also modified their holdings of RRC. Mackenzie Financial Corp increased its stake in Range Resources by 2,708.2% in the 4th quarter. Mackenzie Financial Corp now owns 3,057,252 shares of the oil and gas exploration company’s stock valued at $52,157,000 after buying an additional 2,948,384 shares during the last quarter. SailingStone Capital Partners LLC grew its position in shares of Range Resources by 7.9% in the 4th quarter. SailingStone Capital Partners LLC now owns 35,832,571 shares of the oil and gas exploration company’s stock valued at $611,304,000 after acquiring an additional 2,623,957 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Range Resources in the 3rd quarter valued at about $34,462,000. Guggenheim Capital LLC grew its position in shares of Range Resources by 55.2% in the 4th quarter. Guggenheim Capital LLC now owns 3,579,421 shares of the oil and gas exploration company’s stock valued at $61,063,000 after acquiring an additional 1,272,442 shares during the period. Finally, HBK Investments L P bought a new position in shares of Range Resources in the 4th quarter valued at about $15,369,000. Hedge funds and other institutional investors own 96.30% of the company’s stock.
Shares of Range Resources Corp. (NYSE RRC) traded up $0.01 during mid-day trading on Tuesday, hitting $14.67. 842,874 shares of the company traded hands, compared to its average volume of 9,526,282. The company has a market cap of $3,755.43, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 0.66 and a beta of 0.69. The company has a quick ratio of 0.54, a current ratio of 0.57 and a debt-to-equity ratio of 0.71. Range Resources Corp. has a 1-year low of $11.93 and a 1-year high of $30.30.
Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 27th. The oil and gas exploration company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The business had revenue of $679.00 million during the quarter, compared to the consensus estimate of $659.71 million. Range Resources had a net margin of 12.76% and a return on equity of 5.42%. Range Resources’s revenue was up 167.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. equities research analysts anticipate that Range Resources Corp. will post 1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, March 15th. Range Resources’s dividend payout ratio is currently 5.97%.
A number of research analysts have recently commented on the stock. ValuEngine raised shares of Range Resources from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Bank of America downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Scotiabank set a $27.00 price objective on shares of Range Resources and gave the company a “buy” rating in a research report on Saturday, November 25th. Morgan Stanley downgraded shares of Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective for the company. in a research report on Wednesday, January 24th. Finally, Credit Suisse Group decreased their price objective on shares of Range Resources from $24.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources presently has an average rating of “Hold” and a consensus price target of $23.35.
In other Range Resources news, Director Steffen E. Palko acquired 34,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was purchased at an average price of $14.72 per share, with a total value of $500,480.00. Following the acquisition, the director now directly owns 61,267 shares of the company’s stock, valued at approximately $901,850.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.
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Range Resources Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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