CI Investments Inc. Has $3.05 Million Holdings in Range Resources Corporation (RRC)

CI Investments Inc. grew its holdings in Range Resources Corporation (NYSE:RRC) by 124.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,700 shares of the oil and gas exploration company’s stock after buying an additional 73,000 shares during the period. CI Investments Inc. owned 0.05% of Range Resources Corporation worth $3,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RRC. BlackRock Inc. lifted its position in shares of 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 valued at $382,193,000 after buying an additional 12,551,039 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Range Resources Corporation by 1,318.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,501,921 shares of the oil and gas exploration company’s stock worth $34,800,000 after purchasing an additional 1,395,999 shares during the last quarter. Stelliam Investment Management LP lifted its holdings in Range Resources Corporation by 21.9% during the 1st 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 purchasing an additional 1,027,500 shares during the last quarter. Sanders Capital LLC lifted its holdings in Range Resources Corporation by 6.7% during the 2nd quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock worth $379,186,000 after purchasing an additional 932,706 shares during the last quarter. Finally, Caymus Capital Partners L.P. lifted its holdings in Range Resources Corporation by 274.3% during the 2nd quarter. Caymus Capital Partners L.P. now owns 1,272,600 shares of the oil and gas exploration company’s stock worth $29,486,000 after purchasing an additional 932,600 shares during the last quarter. 95.34% of the stock is owned by institutional investors.

RRC has been the topic of a number of recent research reports. Citigroup Inc. lowered their price objective 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. Goldman Sachs Group, Inc. (The) lowered Range Resources Corporation from a “conviction-buy” rating to a “buy” rating and set a $42.50 price objective on the stock. in a research note on Friday, June 2nd. Zacks Investment Research upgraded Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Monday, July 17th. Jefferies Group LLC set a $36.00 price objective on Range Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, BMO Capital Markets decreased their price target on Range Resources Corporation from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.33.

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Range Resources Corporation (RRC) traded down 1.28% on Friday, reaching $18.54. The company had a trading volume of 13,173,710 shares. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 125.27 and a beta of 0.94. Range Resources Corporation has a one year low of $16.00 and a one year high of $40.20. The company’s 50 day moving average is $17.96 and its 200-day moving average is $23.43.

Range Resources Corporation (NYSE:RRC) last posted its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. During the same period in the previous year, the company earned ($1.35) EPS. The company’s revenue for the quarter was up 55.8% on a year-over-year basis. On average, equities research analysts expect that Range Resources Corporation will post $0.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.43%. Range Resources Corporation’s dividend payout ratio (DPR) is currently 100.01%.

In other Range Resources Corporation news, Director Mary Ralph Lowe purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now directly owns 25,413 shares in the company, valued at $457,179.87. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steffen E. Palko purchased 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of $16.81 per share, with a total value of $252,150.00. Following the completion of the acquisition, the director now owns 27,267 shares of the company’s stock, valued at $458,358.27. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 26,000 shares of company stock valued at $449,800. Corporate insiders own 2.40% of the company’s stock.

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.

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

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