Barrett & Company Inc. Buys New Shares in Range Resources Corporation $RRC

Barrett & Company Inc. purchased a new stake in Range Resources Corporation (NYSE:RRC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,009 shares of the oil and gas exploration company’s stock, valued at approximately $41,000.

Several other hedge funds have also made changes to their positions in the company. Kopernik Global Investors LLC lifted its position in shares of Range Resources by 5.2% in the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company’s stock valued at $113,667,000 after acquiring an additional 140,043 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Range Resources by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company’s stock valued at $85,899,000 after acquiring an additional 38,648 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Range Resources by 1.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company’s stock valued at $57,803,000 after acquiring an additional 25,403 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Range Resources by 50.1% in the 1st quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock valued at $56,103,000 after acquiring an additional 468,841 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of Range Resources by 21.9% in the 1st quarter. Jefferies Financial Group Inc. now owns 968,759 shares of the oil and gas exploration company’s stock valued at $38,683,000 after acquiring an additional 173,785 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE:RRC opened at $38.24 on Friday. Range Resources Corporation has a 1 year low of $28.99 and a 1 year high of $43.50. The firm’s fifty day simple moving average is $35.18 and its 200 day simple moving average is $36.92. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.11 billion, a PE ratio of 19.22, a PEG ratio of 0.33 and a beta of 0.51.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same period last year, the business posted $0.46 EPS. On average, sell-side analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.09 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is presently 18.09%.

Analyst Ratings Changes

RRC has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Range Resources in a research report on Saturday, September 27th. Mizuho cut their target price on shares of Range Resources from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Citigroup cut their target price on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Raymond James Financial cut their target price on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, September 19th. Finally, UBS Group cut their target price on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, August 20th. Eight equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.80.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.