Range Resources-Louisiana Inc (MRD) Shares Sold by Adage Capital Partners GP L.L.C.
Adage Capital Partners GP L.L.C. decreased its position in shares of Range Resources-Louisiana Inc (NASDAQ:MRD) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,451,734 shares of the company’s stock after selling 496,731 shares during the period. Adage Capital Partners GP L.L.C. owned 2.83% of Range Resources-Louisiana worth $86,574,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in MRD. Boothbay Fund Management LLC increased its stake in Range Resources-Louisiana by 18.4% in the first quarter. Boothbay Fund Management LLC now owns 12,576 shares of the company’s stock worth $128,000 after buying an additional 1,955 shares during the last quarter. Harvest Management LLC purchased a new stake in Range Resources-Louisiana during the second quarter worth $159,000. IBM Retirement Fund purchased a new stake in Range Resources-Louisiana during the second quarter worth $162,000. Laurion Capital Management LP purchased a new stake in Range Resources-Louisiana during the second quarter worth $205,000. Finally, Diversified Trust Co purchased a new stake in Range Resources-Louisiana during the second quarter worth $232,000. Institutional investors and hedge funds own 85.32% of the company’s stock.
Separately, BMO Capital Markets downgraded Range Resources-Louisiana from an “outperform” rating to a “market perform” rating and set a $17.00 price target on the stock. in a research report on Friday, July 29th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.82.
Range Resources-Louisiana Company Profile
Range Resources-Louisiana, Inc, formerly Memorial Resource Development Corp, is an independent natural gas and oil company focused on the acquisition, exploration and development of natural gas and oil properties with substantially all of its activities in the Terryville Complex of North Louisiana. The Company’s segments include MRD and Memorial Production Partners LP (MEMP).
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