Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Range Resources Corp. (NYSE:RRC) by 10.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,249 shares of the oil and gas exploration company’s stock after selling 5,518 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Range Resources Corp. were worth $1,375,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Range Resources Corp. during the fourth quarter worth about $85,048,000. Norges Bank acquired a new position in Range Resources Corp. during the fourth quarter worth about $64,678,000. Stelliam Investment Management LP increased its position in Range Resources Corp. by 49.6% in the fourth quarter. Stelliam Investment Management LP now owns 4,695,000 shares of the oil and gas exploration company’s stock worth $161,320,000 after buying an additional 1,557,500 shares in the last quarter. FMR LLC increased its position in Range Resources Corp. 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 in the last quarter. Finally, Bessemer Group Inc. increased its position in Range Resources Corp. by 62.0% in the fourth quarter. Bessemer Group Inc. now owns 3,271,802 shares of the oil and gas exploration company’s stock worth $112,418,000 after buying an additional 1,251,569 shares in the last quarter. Institutional investors own 87.70% of the company’s stock.
Shares of Range Resources Corp. (NYSE:RRC) traded down 3.55% during mid-day trading on Wednesday, reaching $24.20. 3,452,958 shares of the company traded hands. Range Resources Corp. has a 52 week low of $24.19 and a 52 week high of $46.96. The stock’s 50-day moving average is $26.93 and its 200-day moving average is $31.05. The company’s market capitalization is $5.89 billion.
Range Resources Corp. (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, topping analysts’ consensus estimates of $0.19 by $0.06. The company had revenue of $607 million during the quarter, compared to analysts’ expectations of $585.45 million. Range Resources Corp. had a negative net margin of 54.13% and a negative return on equity of 13.00%. The firm’s quarterly revenue was up 83.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, equities analysts predict that Range Resources Corp. will post $0.79 EPS for the current fiscal year.
RRC has been the subject of a number of research reports. Evercore ISI upgraded shares of Range Resources Corp. to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and set a $41.00 target price on shares of Range Resources Corp. in a research report on Monday, May 1st. Capital One Financial Corp. upgraded shares of Range Resources Corp. from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, April 4th. JPMorgan Chase & Co. restated a “buy” rating on shares of Range Resources Corp. in a research report on Tuesday, April 25th. Finally, Wells Fargo & Co upgraded shares of Range Resources Corp. from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.25.
In other Range Resources Corp. news, Director Christopher A. Helms bought 4,000 shares of the business’s stock in a transaction on Friday, March 17th. The stock was bought at an average price of $27.46 per share, for a total transaction of $109,840.00. Following the completion of the transaction, the director now owns 15,931 shares in the company, valued at approximately $437,465.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.
Range Resources Corp. 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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