DRW Securities LLC Buys Shares of 50,885 Range Resources Co. (NYSE:RRC)

DRW Securities LLC purchased a new position in Range Resources Co. (NYSE:RRC) during the second quarter, HoldingsChannel.com reports. The fund purchased 50,885 shares of the oil and gas exploration company’s stock, valued at approximately $1,706,000.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 5,759,883 shares during the period. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 959,011 shares during the period. Boston Partners increased its holdings in shares of Range Resources by 2.1% in the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after purchasing an additional 133,565 shares during the period. Lingotto Investment Management LLP raised its position in shares of Range Resources by 1.5% in the second 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 in the last quarter. Finally, Kopernik Global Investors LLC boosted its stake in Range Resources by 2.7% during the fourth 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 buying an additional 82,095 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RRC shares. Wells Fargo & Company decreased their target price on Range Resources from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Susquehanna lowered their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research note on Tuesday, August 20th. Mizuho decreased their price target on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Morgan Stanley dropped their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.10.

Range Resources Stock Up 0.3 %

Shares of Range Resources stock opened at $30.61 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33. The company’s 50 day moving average price is $30.40 and its 200-day moving average price is $33.49. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80.

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

Range Resources Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s payout ratio is 16.24%.

Range Resources 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.