Lesa Sroufe & Co Buys 2,275 Shares of Range Resources Corporation $RRC

Lesa Sroufe & Co lifted its stake in shares of Range Resources Corporation (NYSE:RRC) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,998 shares of the oil and gas exploration company’s stock after acquiring an additional 2,275 shares during the quarter. Range Resources comprises about 3.6% of Lesa Sroufe & Co’s investment portfolio, making the stock its 8th biggest holding. Lesa Sroufe & Co’s holdings in Range Resources were worth $3,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RRC. Hollencrest Capital Management acquired a new position in shares of Range Resources during the first quarter valued at approximately $33,000. Bessemer Group Inc. increased its stake in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 315 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Range Resources during the first quarter valued at approximately $39,000. Barrett & Company Inc. acquired a new position in shares of Range Resources during the second quarter valued at approximately $41,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Range Resources during the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 3.0%

Range Resources stock opened at $37.22 on Thursday. The company has a 50 day moving average price of $35.51 and a 200 day moving average price of $36.81. Range Resources Corporation has a 52 week low of $28.99 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 0.32 and a beta of 0.51.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, topping 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 firm had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. During the same quarter last year, the business posted $0.46 EPS. 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. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 18.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays raised their price objective on shares of Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. Royal Bank Of Canada raised their target price on shares of Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, October 6th. 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, October 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Range Resources in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $42.05.

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.