Goehring & Rozencwajg Associates LLC Increases Stock Holdings in Range Resources Co. (NYSE:RRC)

Goehring & Rozencwajg Associates LLC raised its holdings in Range Resources Co. (NYSE:RRC) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,374,201 shares of the oil and gas exploration company’s stock after acquiring an additional 136,200 shares during the quarter. Range Resources makes up 9.1% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its largest holding. Goehring & Rozencwajg Associates LLC owned about 0.57% of Range Resources worth $46,077,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RRC. MQS Management LLC purchased a new stake in shares of Range Resources in the 2nd quarter worth $378,000. Blair William & Co. IL purchased a new stake in shares of Range Resources in the 2nd quarter worth $376,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Range Resources by 9.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,568 shares of the oil and gas exploration company’s stock worth $1,193,000 after buying an additional 3,037 shares during the period. Lingotto Investment Management LLP lifted its holdings in shares of Range Resources by 1.5% in the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after buying an additional 93,782 shares during the period. Finally, Pekin Hardy Strauss Inc. lifted its holdings in shares of Range Resources by 6.0% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after buying an additional 600 shares during the period. Institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a report on Thursday, July 25th. Susquehanna lowered their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Wells Fargo & Company decreased their price objective on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Jefferies Financial Group upped their price objective on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.10.

Range Resources Stock Performance

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

Range Resources (NYSE:RRC) last issued 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. The company had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. As a group, research analysts expect that Range Resources Co. will post 2.07 earnings per share for the current year.

Range Resources Dividend Announcement

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

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.