Range Resources Corp. (RRC) Shares Bought by IFP Advisors Inc
IFP Advisors Inc boosted its stake in Range Resources Corp. (NYSE:RRC) by 2,199.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,302 shares of the oil and gas exploration company’s stock after purchasing an additional 30,897 shares during the quarter. IFP Advisors Inc’s holdings in Range Resources were worth $540,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the business. ANTIPODES PARTNERS Ltd boosted its position in Range Resources by 54.6% during the second quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock valued at $97,541,000 after purchasing an additional 2,058,057 shares during the last quarter. Comerica Bank lifted its position in shares of Range Resources by 119.2% in the second quarter. Comerica Bank now owns 200,027 shares of the oil and gas exploration company’s stock valued at $3,260,000 after buying an additional 108,759 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Range Resources by 344.2% in the second quarter. Louisiana State Employees Retirement System now owns 61,300 shares of the oil and gas exploration company’s stock valued at $1,026,000 after buying an additional 47,500 shares during the last quarter. Advisor Partners LLC acquired a new stake in shares of Range Resources in the first quarter valued at approximately $209,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Range Resources by 12.9% in the first quarter. Allianz Asset Management GmbH now owns 1,115,338 shares of the oil and gas exploration company’s stock valued at $16,217,000 after buying an additional 127,571 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.
A number of analysts have recently issued reports on the company. Wolfe Research raised Range Resources from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 27th. TD Securities started coverage on Range Resources in a research note on Thursday, July 5th. They set a “hold” rating and a $18.00 target price on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $27.00 target price on shares of Range Resources in a research note on Friday, July 20th. Capital One Financial upgraded Range Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus assumed coverage on Range Resources in a research note on Wednesday, May 23rd. They set a “buy” rating and a $21.50 price objective on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Range Resources has an average rating of “Hold” and an average price target of $22.05.
Range Resources (NYSE:RRC) last announced its earnings results on Monday, July 30th. The oil and gas exploration company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.09. The firm had revenue of $745.00 million for the quarter, compared to the consensus estimate of $671.50 million. Range Resources had a return on equity of 4.00% and a net margin of 2.46%. The business’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. research analysts anticipate that Range Resources Corp. will post 0.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, September 13th. Range Resources’s payout ratio is presently 13.79%.
In other news, insider Jeffrey L. Ventura sold 8,767 shares of Range Resources stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $17.54, for a total value of $153,773.18. Following the completion of the transaction, the insider now directly owns 390,432 shares of the company’s stock, valued at approximately $6,848,177.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David P. Poole sold 3,829 shares of Range Resources stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $17.54, for a total value of $67,160.66. Following the completion of the transaction, the vice president now directly owns 37,484 shares of the company’s stock, valued at $657,469.36. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Range Resources 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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