Twin Tree Management LP Sells 29,001 Shares of Range Resources Corporation (RRC)

Twin Tree Management LP lessened its position in shares of Range Resources Corporation (NYSE:RRC) by 47.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,844 shares of the oil and gas exploration company’s stock after selling 29,001 shares during the quarter. Twin Tree Management LP’s holdings in Range Resources Corporation were worth $738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Range Resources Corporation by 3.2% during the first quarter. Vanguard Group Inc. now owns 22,226,210 shares of the oil and gas exploration company’s stock valued at $646,783,000 after acquiring an additional 687,967 shares during the period. Sanders Capital LLC lifted its stake in shares of Range Resources Corporation by 6.7% during the second quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock valued at $379,186,000 after acquiring an additional 932,706 shares during the period. BlackRock Inc. lifted its stake in shares of Range Resources Corporation by 2,153.9% during the first quarter. BlackRock Inc. now owns 13,133,750 shares of the oil and gas exploration company’s stock valued at $382,193,000 after acquiring an additional 12,551,039 shares during the period. State Street Corp lifted its stake in shares of Range Resources Corporation by 2.4% during the first quarter. State Street Corp now owns 12,051,572 shares of the oil and gas exploration company’s stock valued at $350,697,000 after acquiring an additional 284,490 shares during the period. Finally, Stelliam Investment Management LP lifted its stake in shares of Range Resources Corporation by 21.9% during the first quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock valued at $166,525,000 after acquiring an additional 1,027,500 shares during the period. 95.51% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director Mary Ralph Lowe acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $17.99 per share, with a total value of $179,900.00. Following the acquisition, the director now owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steffen E. Palko acquired 15,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $16.81 per share, with a total value of $252,150.00. Following the completion of the acquisition, the director now directly owns 27,267 shares in the company, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Insiders have acquired a total of 26,000 shares of company stock valued at $449,800 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Range Resources Corporation (RRC) opened at 18.92 on Friday. Range Resources Corporation has a 1-year low of $16.00 and a 1-year high of $40.20. The company has a market capitalization of $4.62 billion, a P/E ratio of 127.84 and a beta of 0.94. The firm has a 50-day moving average price of $17.82 and a 200-day moving average price of $23.24.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. The firm had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The company’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same period in the previous year, the company posted ($1.35) EPS. On average, analysts forecast that Range Resources Corporation will post $0.50 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, September 14th. Range Resources Corporation’s dividend payout ratio is currently 100.01%.

Several research firms have weighed in on RRC. Cowen and Company reissued a “buy” rating and issued a $35.00 target price on shares of Range Resources Corporation in a research note on Tuesday, August 22nd. Zacks Investment Research raised Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, July 17th. Barclays PLC cut their target price on Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday, August 3rd. KeyCorp reissued a “hold” rating on shares of Range Resources Corporation in a research note on Wednesday, September 6th. Finally, Citigroup Inc. cut their target price on Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Range Resources Corporation currently has a consensus rating of “Buy” and an average price target of $36.22.

Range Resources Corporation 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.

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

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