Bank Pictet & Cie Europe AG lessened its stake in shares of Range Resources Corporation (NYSE:RRC – Free Report) by 22.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,100,357 shares of the oil and gas exploration company’s stock after selling 327,000 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Range Resources were worth $40,757,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Range Resources during the second quarter valued at approximately $868,085,000. Dimensional Fund Advisors LP increased its position in shares of Range Resources by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after purchasing an additional 227,711 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its position in shares of Range Resources by 35.9% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,721,749 shares of the oil and gas exploration company’s stock worth $122,969,000 after purchasing an additional 718,648 shares during the last quarter. Canoe Financial LP increased its position in shares of Range Resources by 45.6% during the 1st quarter. Canoe Financial LP now owns 2,290,309 shares of the oil and gas exploration company’s stock worth $103,476,000 after purchasing an additional 717,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Range Resources by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,962,499 shares of the oil and gas exploration company’s stock worth $88,666,000 after purchasing an additional 22,278 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.
Range Resources Stock Performance
NYSE RRC traded up $0.25 during trading on Tuesday, reaching $43.48. 1,079,870 shares of the company’s stock were exchanged, compared to its average volume of 3,100,870. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day moving average price of $40.45 and a 200-day moving average price of $39.98. The stock has a market capitalization of $10.16 billion, a P/E ratio of 12.02 and a beta of 0.71. Range Resources Corporation has a fifty-two week low of $32.68 and a fifty-two week high of $48.31.
Range Resources (NYSE:RRC – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%. The company had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Sell-side analysts forecast that Range Resources Corporation will post 3.78 earnings per share for the current fiscal year.
Range Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s payout ratio is presently 11.05%.
Insiders Place Their Bets
In related news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
Wall Street Analyst Weigh In
RRC has been the subject of several recent analyst reports. Barclays increased their price objective on Range Resources from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, September 8th. Zacks Research raised shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. BMO Capital Markets restated a “market perform” rating on shares of Range Resources in a report on Monday, October 5th. Stephens upped their price target on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Stifel Nicolaus assumed coverage on shares of Range Resources in a research report on Thursday, September 10th. They set a “hold” rating and a $46.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.17.
Check Out Our Latest Stock Report on Range Resources
Range Resources Profile
Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.
The company’s activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.
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