U S Global Investors Inc. Has $427,000 Stock Position in Range Resources Corporation $RRC

U S Global Investors Inc. boosted its position in Range Resources Corporation (NYSE:RRC) by 50.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,500 shares of the oil and gas exploration company’s stock after purchasing an additional 3,500 shares during the period. U S Global Investors Inc.’s holdings in Range Resources were worth $427,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Callan Family Office LLC lifted its position in Range Resources by 30.9% during the second quarter. Callan Family Office LLC now owns 11,989 shares of the oil and gas exploration company’s stock worth $488,000 after acquiring an additional 2,831 shares during the last quarter. NBT Bank N A NY acquired a new stake in Range Resources during the second quarter worth approximately $213,000. QRG Capital Management Inc. lifted its position in Range Resources by 169.9% during the second quarter. QRG Capital Management Inc. now owns 16,199 shares of the oil and gas exploration company’s stock worth $659,000 after acquiring an additional 10,197 shares during the last quarter. Barrett & Company Inc. acquired a new stake in Range Resources during the second quarter worth approximately $41,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Range Resources during the second quarter worth approximately $47,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RRC. JPMorgan Chase & Co. cut their price objective on shares of Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Roth Capital downgraded shares of Range Resources from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $44.00 to $35.00 in a research report on Monday, August 18th. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Mizuho raised their target price on shares of Range Resources from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, UBS Group lowered their target price on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Eight investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $42.00.

Range Resources Stock Down 5.7%

Shares of RRC opened at $36.37 on Friday. Range Resources Corporation has a 12 month low of $28.99 and a 12 month high of $43.50. The firm’s 50 day moving average is $35.41 and its 200-day moving average is $36.86. The stock has a market capitalization of $8.66 billion, a PE ratio of 18.28, a P/E/G ratio of 0.34 and a beta of 0.51. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The company had revenue of $856.28 million for the quarter, compared to analysts’ expectations of $708.38 million. During the same period last year, the firm earned $0.46 earnings per share. Equities research analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is 18.09%.

Range Resources Company 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.