Nomura Holdings Inc. raised its position in Range Resources Corporation (NYSE:RRC) by 501.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,323 shares of the oil and gas exploration company’s stock after buying an additional 51,968 shares during the period. Nomura Holdings Inc.’s holdings in Range Resources Corporation were worth $1,814,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in RRC. Bartlett & Co. LLC raised its position in shares of Range Resources Corporation by 43.0% in the first quarter. Bartlett & Co. LLC now owns 3,475 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 1,045 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Range Resources Corporation by 7.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,756 shares of the oil and gas exploration company’s stock valued at $109,000 after buying an additional 257 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Range Resources Corporation by 0.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 31 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Range Resources Corporation by 14.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,374 shares of the oil and gas exploration company’s stock valued at $151,000 after buying an additional 546 shares during the last quarter. Finally, Financial Architects Inc increased its stake in Range Resources Corporation by 28.9% in the first quarter. Financial Architects Inc now owns 4,900 shares of the oil and gas exploration company’s stock valued at $143,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.
Shares of Range Resources Corporation (NYSE:RRC) traded down 1.66% on Friday, hitting $21.33. 4,423,299 shares of the stock traded hands. The stock has a 50 day moving average of $23.47 and a 200-day moving average of $28.73. Range Resources Corporation has a 1-year low of $20.95 and a 1-year high of $45.76. The stock’s market cap is $5.19 billion.
Range Resources Corporation (NYSE:RRC) last announced its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. Range Resources Corporation had a negative return on equity of 1.41% and a negative net margin of 16.67%. The firm had revenue of $607 million during the quarter, compared to analyst estimates of $585.45 million. During the same period last year, the firm posted ($0.10) EPS. The business’s revenue was up 83.2% compared to the same quarter last year. On average, equities research analysts expect that Range Resources Corporation will post $0.71 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were paid a dividend of $0.02 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. Range Resources Corporation’s payout ratio is -5.16%.
A number of research analysts have issued reports on the stock. ValuEngine raised shares of Range Resources Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada set a $44.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Scotiabank set a $35.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a research note on Saturday, July 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Range Resources Corporation in a report on Monday, May 1st. Finally, Barclays PLC reiterated a “sell” rating and issued a $28.00 target price on shares of Range Resources Corporation in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have issued a buy rating to the stock. Range Resources Corporation currently has a consensus rating of “Buy” and an average price target of $44.19.
In related news, Director James M. Funk bought 4,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average price of $22.96 per share, for a total transaction of $91,840.00. Following the purchase, the director now directly owns 11,303 shares in the company, valued at $259,516.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ray N. Walker, Jr. sold 7,200 shares of Range Resources Corporation stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.17, for a total value of $166,824.00. Following the sale, the chief operating officer now owns 63,861 shares of the company’s stock, valued at approximately $1,479,659.37. The disclosure for this sale can be found here. Insiders have sold a total of 36,521 shares of company stock valued at $842,742 in the last quarter. 2.40% of the stock is owned by corporate insiders.
Range Resources Corporation Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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