Icon Advisers Inc. Co. boosted its stake in Range Resources Corporation (NYSE:RRC) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 424,800 shares of the oil and gas exploration company’s stock after purchasing an additional 35,200 shares during the quarter. Icon Advisers Inc. Co. owned approximately 0.17% of Range Resources Corporation worth $9,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of RRC. Capstone Asset Management Co. boosted its stake in Range Resources Corporation by 1.1% in the 1st quarter. Capstone Asset Management Co. now owns 12,374 shares of the oil and gas exploration company’s stock worth $360,000 after purchasing an additional 140 shares during the period. Retirement Systems of Alabama boosted its stake in Range Resources Corporation by 2.1% in the 1st quarter. Retirement Systems of Alabama now owns 90,931 shares of the oil and gas exploration company’s stock worth $2,646,000 after purchasing an additional 1,904 shares during the period. ProShare Advisors LLC boosted its stake in Range Resources Corporation by 0.8% in the 1st quarter. ProShare Advisors LLC now owns 31,935 shares of the oil and gas exploration company’s stock worth $929,000 after purchasing an additional 260 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Range Resources Corporation by 16.2% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,210 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 2,259 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Range Resources Corporation by 3.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,689 shares of the oil and gas exploration company’s stock worth $864,000 after purchasing an additional 1,119 shares during the period. Institutional investors and hedge funds own 95.34% of the company’s stock.

In other Range Resources Corporation news, Director Steffen E. Palko purchased 15,000 shares of Range Resources Corporation stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the acquisition, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Ralph Lowe purchased 10,000 shares of Range Resources Corporation stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Insiders bought a total of 26,000 shares of company stock valued at $449,800 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Shares of Range Resources Corporation (RRC) traded up 2.18% during trading on Wednesday, reaching $18.31. The company’s stock had a trading volume of 2,036,492 shares. Range Resources Corporation has a 12-month low of $16.00 and a 12-month high of $42.80. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 123.72 and a beta of 0.94. The company has a 50 day moving average of $18.33 and a 200-day moving average of $23.63.

Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.20. The business had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The company’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same period last year, the company earned ($1.35) EPS. Analysts forecast that Range Resources Corporation will post $0.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, September 14th. Range Resources Corporation’s payout ratio is 100.01%.

Several research analysts have commented on RRC shares. Citigroup Inc. cut their target price on Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Goldman Sachs Group, Inc. (The) downgraded Range Resources Corporation from a “conviction-buy” rating to a “buy” rating and set a $42.50 target price for the company. in a research note on Friday, June 2nd. Zacks Investment Research upgraded Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Monday, July 17th. BMO Capital Markets cut their target price on Range Resources Corporation from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, July 14th. Finally, Jefferies Group LLC set a $36.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $38.33.

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About Range Resources Corporation

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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Institutional Ownership by Quarter for Range Resources Corporation (NYSE:RRC)

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