GMT Capital Corp Has $42,152,000 Stake in Range Resources Corporation (RRC)
GMT Capital Corp held its position in shares of Range Resources Corporation (NYSE:RRC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,976,200 shares of the oil and gas exploration company’s stock at the end of the 2nd quarter. GMT Capital Corp owned 0.81% of Range Resources Corporation worth $42,152,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in RRC. BlackRock Inc. raised its position in Range Resources Corporation by 2,153.9% in the 1st quarter. BlackRock Inc. now owns 13,133,750 shares of the oil and gas exploration company’s stock valued at $382,193,000 after purchasing an additional 12,551,039 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Range Resources Corporation by 1,318.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,501,921 shares of the oil and gas exploration company’s stock valued at $34,800,000 after purchasing an additional 1,395,999 shares during the last quarter. Stelliam Investment Management LP raised its position in Range Resources Corporation by 21.9% in the 1st quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock valued at $166,525,000 after purchasing an additional 1,027,500 shares during the last quarter. Vanguard Group Inc. raised its position in Range Resources Corporation by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after purchasing an additional 976,293 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Range Resources Corporation by 72.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock valued at $53,825,000 after purchasing an additional 973,814 shares during the last quarter. Hedge funds and other institutional investors own 95.61% of the company’s stock.
Shares of Range Resources Corporation (NYSE:RRC) traded down 2.55% during midday trading on Thursday, reaching $19.89. 2,184,357 shares of the company were exchanged. Range Resources Corporation has a 52-week low of $16.00 and a 52-week high of $40.20. The company has a market capitalization of $4.85 billion, a PE ratio of 134.39 and a beta of 0.94. The firm’s 50 day moving average is $17.82 and its 200-day moving average is $23.24.
Range Resources Corporation (NYSE:RRC) last released its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. The firm had revenue of $565.00 million for 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%. Range Resources Corporation’s revenue was up 55.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.35) earnings per share. On average, equities analysts forecast that Range Resources Corporation will post $0.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, September 14th. Range Resources Corporation’s payout ratio is currently 100.01%.
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RRC has been the subject of several research reports. BidaskClub upgraded shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada set a $44.00 price target on shares of Range Resources Corporation and gave the company a “buy” rating in a research report on Saturday, June 3rd. Cowen and Company reiterated a “buy” rating and issued a $35.00 price target on shares of Range Resources Corporation in a research report on Tuesday, August 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Range Resources Corporation in a research report on Thursday, September 14th. Finally, Barclays PLC reduced their price target on shares of Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $36.22.
In related news, Director Steffen E. Palko purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $16.81 per share, with a total value of $252,150.00. Following the purchase, the director now owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ralph Lowe purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the purchase, the director now directly owns 25,413 shares in the company, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 26,000 shares of company stock worth $449,800. 2.40% of the stock is owned by corporate insiders.
Range Resources Corporation 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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