Range Resources Corporation (RRC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in Range Resources Corporation (NYSE:RRC) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 950,486 shares of the oil and gas exploration company’s stock after selling 24,019 shares during the period. Alliancebernstein L.P. owned about 0.39% of Range Resources Corporation worth $22,023,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RRC. DekaBank Deutsche Girozentrale increased its stake in shares of Range Resources Corporation by 133.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,069 shares of the oil and gas exploration company’s stock worth $393,000 after buying an additional 7,481 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Range Resources Corporation by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 1,692,335 shares of the oil and gas exploration company’s stock worth $49,247,000 after buying an additional 32,922 shares during the last quarter. World Asset Management Inc increased its stake in shares of Range Resources Corporation by 11.3% in the first quarter. World Asset Management Inc now owns 18,605 shares of the oil and gas exploration company’s stock worth $541,000 after buying an additional 1,883 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Range Resources Corporation by 11.7% in the first quarter. UBS Asset Management Americas Inc. now owns 482,393 shares of the oil and gas exploration company’s stock worth $14,038,000 after buying an additional 50,440 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in shares of Range Resources Corporation in the first quarter worth $2,037,000. Institutional investors and hedge funds own 95.51% of the company’s stock.

Shares of Range Resources Corporation (NYSE RRC) opened at 18.80 on Friday. The company has a 50-day moving average of $17.82 and a 200 day moving average of $23.24. Range Resources Corporation has a 12-month low of $16.00 and a 12-month high of $40.20. The firm has a market cap of $4.59 billion, a P/E ratio of 127.03 and a beta of 0.94.

Range Resources Corporation (NYSE:RRC) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. During the same period last year, the company posted ($1.35) earnings per share. The firm’s quarterly revenue was up 55.8% compared to the same quarter last year. Equities analysts predict that Range Resources Corporation will post $0.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.42%. Range Resources Corporation’s dividend payout ratio (DPR) is presently 100.01%.

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

COPYRIGHT VIOLATION WARNING: “Range Resources Corporation (RRC) Shares Sold by Alliancebernstein L.P.” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://ledgergazette.com/2017/09/22/range-resources-corporation-rrc-shares-sold-by-alliancebernstein-l-p.html.

RRC has been the subject of a number of research analyst reports. Cowen and Company restated a “buy” rating and issued a $35.00 price target on shares of Range Resources Corporation in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Monday, July 17th. Barclays PLC dropped their price target on shares of Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, August 3rd. KeyCorp restated a “hold” rating on shares of Range Resources Corporation in a research note on Wednesday, September 6th. Finally, Citigroup Inc. dropped their price target on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $36.22.

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)

Receive News & Ratings for Range Resources Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply