Range Resources Co. (NYSE:RRC) Stock Position Cut by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Range Resources Co. (NYSE:RRC) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,026,083 shares of the oil and gas exploration company’s stock after selling 59,600 shares during the quarter. Renaissance Technologies LLC owned 0.42% of Range Resources worth $34,405,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after buying an additional 5,759,883 shares during the period. Vanguard Group Inc. grew its position in Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares in the last quarter. Boston Partners raised its holdings in shares of Range Resources by 2.1% during the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after purchasing an additional 133,565 shares in the last quarter. Kopernik Global Investors LLC lifted its stake in shares of Range Resources by 2.7% in the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock valued at $94,562,000 after purchasing an additional 82,095 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Range Resources in the second quarter worth $78,223,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Up 1.6 %

Shares of RRC opened at $29.99 on Thursday. The stock has a 50 day simple moving average of $30.63 and a 200-day simple moving average of $33.55. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The stock has a market cap of $7.28 billion, a PE ratio of 15.22 and a beta of 1.80. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter last year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Range Resources Co. will post 2.07 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, September 13th. Range Resources’s payout ratio is presently 16.24%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Mizuho decreased their price target on Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 20th. The Goldman Sachs Group lowered their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, UBS Group cut their target price on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.10.

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.