Range Resources Corp. (RRC) Shares Sold by Sanders Capital LLC
Sanders Capital LLC reduced its stake in shares of Range Resources Corp. (NYSE:RRC) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,556,351 shares of the oil and gas exploration company’s stock after selling 345,409 shares during the period. Range Resources Corp. accounts for about 5.2% of Sanders Capital LLC’s investment portfolio, making the stock its 6th largest position. Sanders Capital LLC owned approximately 8.74% of Range Resources Corp. worth $641,226,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. British Airways Pensions Investment Management Ltd bought a new position in shares of Range Resources Corp. during the second quarter valued at about $23,916,000. Bank of Montreal Can bought a new position in shares of Range Resources Corp. during the second quarter valued at about $23,563,000. Phocas Financial Corp. bought a new position in shares of Range Resources Corp. during the first quarter valued at about $7,610,000. TIAA CREF Investment Management LLC boosted its position in shares of Range Resources Corp. by 21.7% in the first quarter. TIAA CREF Investment Management LLC now owns 800,365 shares of the oil and gas exploration company’s stock valued at $25,916,000 after buying an additional 142,956 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Range Resources Corp. during the second quarter valued at about $5,574,000.
Shares of Range Resources Corp. (NYSE:RRC) traded up 2.11% during midday trading on Friday, reaching $39.26. The company’s stock had a trading volume of 7,107,409 shares. The stock’s market capitalization is $6.54 billion. The stock has a 50-day moving average price of $39.52 and a 200 day moving average price of $40.16. Range Resources Corp. has a 52 week low of $19.21 and a 52 week high of $46.96.
Range Resources Corp. (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.07. The business earned $362.67 million during the quarter, compared to analyst estimates of $327.40 million. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.01 EPS. Equities analysts forecast that Range Resources Corp. will post ($0.20) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Wednesday, September 14th. Range Resources Corp.’s dividend payout ratio is presently -1.42%.
Several equities analysts have recently issued reports on RRC shares. Jefferies Group reiterated a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Range Resources Corp. in a research note on Sunday, July 10th. JPMorgan Chase & Co. upgraded Range Resources Corp. from a “neutral” rating to an “overweight” rating and set a $46.00 target price for the company in a research note on Friday. Vetr upgraded Range Resources Corp. from a “hold” rating to a “buy” rating and set a $45.28 target price for the company in a research note on Monday, July 4th. Zacks Investment Research cut Range Resources Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $52.00 target price on shares of Range Resources Corp. in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have given a buy rating to the company. Range Resources Corp. has an average rating of “Buy” and a consensus target price of $44.31.
In other Range Resources Corp. news, Director Gregory Gene Maxwell bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was acquired at an average price of $37.00 per share, with a total value of $37,000.00. Following the completion of the transaction, the director now directly owns 12,211 shares in the company, valued at approximately $451,807. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $37.53, for a total value of $501,025.50. Following the completion of the sale, the chief operating officer now directly owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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