Creative Planning grew its stake in shares of Range Resources Co. (NYSE:RRC – Free Report) by 12.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,307 shares of the oil and gas exploration company’s stock after purchasing an additional 5,490 shares during the period. Creative Planning’s holdings in Range Resources were worth $1,508,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Range Resources by 8.8% in the 1st quarter. FMR LLC now owns 28,963,656 shares of the oil and gas exploration company’s stock worth $766,668,000 after buying an additional 2,334,862 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Range Resources by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 25,135,388 shares of the oil and gas exploration company’s stock worth $634,920,000 after buying an additional 111,026 shares in the last quarter. Exor Capital LLP boosted its position in shares of Range Resources by 9.7% in the 1st quarter. Exor Capital LLP now owns 6,963,163 shares of the oil and gas exploration company’s stock worth $184,315,000 after buying an additional 616,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Range Resources by 55.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock worth $106,067,000 after buying an additional 1,429,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Range Resources by 143.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock worth $103,169,000 after buying an additional 2,296,114 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Range Resources from $44.00 to $47.00 in a research note on Wednesday, September 27th. Stifel Nicolaus boosted their target price on shares of Range Resources from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Wells Fargo & Company upped their price objective on shares of Range Resources from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, September 1st. Stephens reaffirmed an “overweight” rating and set a $34.00 price objective on shares of Range Resources in a research note on Tuesday, July 25th. Finally, StockNews.com downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $34.90.
Range Resources Trading Up 1.3 %
NYSE:RRC opened at $34.85 on Friday. Range Resources Co. has a 1-year low of $22.61 and a 1-year high of $34.98. The business’s 50-day moving average price is $32.17 and its two-hundred day moving average price is $29.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 5.07, a PEG ratio of 0.63 and a beta of 2.09.
Range Resources (NYSE:RRC – Get Free Report) last released its quarterly earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The company had revenue of $637.00 million for the quarter, compared to analyst estimates of $567.67 million. Range Resources had a return on equity of 31.85% and a net margin of 37.22%. Range Resources’s revenue was down 48.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. On average, equities analysts expect that Range Resources Co. will post 1.93 earnings per share for the current year.
Range Resources Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Range Resources’s dividend payout ratio is 4.66%.
Range Resources Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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