Country Trust Bank boosted its stake in shares of Range Resources Corp. (NYSE:RRC) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,412 shares of the oil and gas exploration company’s stock after acquiring an additional 40,095 shares during the quarter. Country Trust Bank owned 0.43% of Range Resources worth $12,020,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new position in Range Resources in the fourth quarter valued at about $25,000. Rational Advisors LLC raised its position in shares of Range Resources by 3,255.6% during the fourth quarter. Rational Advisors LLC now owns 3,020 shares of the oil and gas exploration company’s stock worth $29,000 after purchasing an additional 2,930 shares during the period. Sit Investment Associates Inc. acquired a new stake in shares of Range Resources during the fourth quarter worth about $45,000. Ayalon Holdings Ltd. raised its position in shares of Range Resources by 87.1% during the fourth quarter. Ayalon Holdings Ltd. now owns 6,939 shares of the oil and gas exploration company’s stock worth $66,000 after purchasing an additional 3,230 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Range Resources by 784.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 790,501 shares of the oil and gas exploration company’s stock worth $83,000 after purchasing an additional 701,168 shares during the period.
In related news, Director James M. Funk purchased 10,000 shares of Range Resources stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $9.80 per share, for a total transaction of $98,000.00. Following the transaction, the director now owns 22,706 shares of the company’s stock, valued at approximately $222,518.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven D. Gray purchased 20,000 shares of Range Resources stock in a transaction on Friday, March 1st. The stock was bought at an average price of $10.95 per share, for a total transaction of $219,000.00. Following the transaction, the director now directly owns 7,804 shares in the company, valued at approximately $85,453.80. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
RRC has been the topic of a number of recent research reports. Capital One Financial lowered Range Resources from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. SunTrust Banks dropped their target price on Range Resources to $12.00 and set a “hold” rating on the stock in a research report on Tuesday, January 8th. B. Riley set a $21.00 target price on Range Resources and gave the company a “buy” rating in a research report on Sunday, December 30th. Bank of America downgraded Range Resources from a “neutral” rating to an “underperform” rating in a research note on Friday, January 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $19.00 price target on shares of Range Resources in a research note on Wednesday, January 30th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. Range Resources presently has a consensus rating of “Hold” and an average price target of $18.04.
RRC stock traded up $0.03 during midday trading on Wednesday, reaching $10.39. 78,252 shares of the stock were exchanged, compared to its average volume of 5,901,536. The firm has a market capitalization of $2.61 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.95 and a beta of 1.16. Range Resources Corp. has a 52 week low of $9.22 and a 52 week high of $18.59. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 0.95.
Range Resources (NYSE:RRC) last issued its quarterly earnings data on Monday, February 25th. The oil and gas exploration company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $736.35 million. Range Resources had a positive return on equity of 5.20% and a negative net margin of 53.20%. Range Resources’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, equities research analysts expect that Range Resources Corp. will post 0.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.77%. Range Resources’s dividend payout ratio is currently 7.08%.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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