Range Resources Corporation (RRC) Stake Boosted by Nomura Holdings Inc.

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 Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of RRC. BlackRock Inc. boosted its position in Range Resources Corporation by 2,153.9% in the first quarter. BlackRock Inc. now owns 13,133,750 shares of the oil and gas exploration company’s stock worth $382,193,000 after buying an additional 12,551,039 shares during the period. Norges Bank bought a new position in Range Resources Corporation during the fourth quarter worth about $64,678,000. FMR LLC boosted its position in Range Resources Corporation by 28.9% in the fourth quarter. FMR LLC now owns 6,421,931 shares of the oil and gas exploration company’s stock worth $220,658,000 after buying an additional 1,438,834 shares during the period. Stelliam Investment Management LP boosted its position in Range Resources Corporation by 21.9% in the first quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock worth $166,525,000 after buying an additional 1,027,500 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in Range Resources Corporation by 400.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 875,000 shares of the oil and gas exploration company’s stock worth $25,463,000 after buying an additional 700,000 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Institutional Ownership by Quarter for Range Resources Corporation (NYSE:RRC)

Range Resources Corporation (NYSE:RRC) traded down 5.09% during trading on Monday, hitting $22.19. 7,678,401 shares of the company’s stock traded hands. Range Resources Corporation has a 12 month low of $21.83 and a 12 month high of $46.96. The stock’s market cap is $5.40 billion. The company’s 50 day moving average is $24.39 and its 200-day moving average is $29.71.

Range Resources Corporation (NYSE:RRC) last announced its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.06. Range Resources Corporation had a negative net margin of 16.67% and a negative return on equity of 1.41%. The business had revenue of $607 million during the quarter, compared to analysts’ expectations of $585.45 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The firm’s revenue was up 83.2% on a year-over-year basis. On average, analysts predict that Range Resources Corporation will post $0.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. Range Resources Corporation’s dividend payout ratio is currently -5.16%.

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A number of research firms have recently issued reports on RRC. Jefferies Group LLC set a $43.00 price objective on shares of Range Resources Corporation and gave the stock a “buy” rating in a research report on Saturday, March 4th. Royal Bank Of Canada set a $44.00 price objective on shares of Range Resources Corporation and gave the stock a “buy” rating in a research report on Saturday, June 3rd. BidaskClub raised shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. KLR Group reissued a “buy” rating and set a $60.00 price objective (up previously from $59.00) on shares of Range Resources Corporation in a research report on Friday, February 24th. Finally, Scotiabank reissued a “buy” rating and set a $49.00 price objective on shares of Range Resources Corporation in a research report on Tuesday, February 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.01.

In other Range Resources Corporation news, COO Ray N. Walker, Jr. sold 7,200 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $23.17, for a total transaction of $166,824.00. Following the completion of the sale, the chief operating officer now directly owns 63,861 shares of the company’s stock, valued at $1,479,659.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Chad L. Stephens sold 28,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $23.05, for a total transaction of $662,549.20. Following the sale, the insider now directly owns 106,692 shares of the company’s stock, valued at $2,459,250.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,521 shares of company stock valued at $842,742. 0.42% of the stock is owned by corporate insiders.

About Range Resources Corporation

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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