Ninepoint Partners LP purchased a new stake in shares of Range Resources Corporation (NYSE:RRC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,000 shares of the oil and gas exploration company’s stock, valued at approximately $1,155,000.
A number of other hedge funds have also recently bought and sold shares of the business. Commonwealth Equity Services Inc purchased a new stake in Range Resources Corporation during the third quarter valued at about $264,000. Russell Investments Group Ltd. grew its position in Range Resources Corporation by 10.5% during the third quarter. Russell Investments Group Ltd. now owns 2,221,904 shares of the oil and gas exploration company’s stock valued at $43,487,000 after acquiring an additional 210,279 shares during the period. Caymus Capital Partners L.P. grew its position in Range Resources Corporation by 5.4% during the third quarter. Caymus Capital Partners L.P. now owns 1,341,600 shares of the oil and gas exploration company’s stock valued at $26,255,000 after acquiring an additional 69,000 shares during the period. Comerica Bank grew its position in Range Resources Corporation by 50.9% during the third quarter. Comerica Bank now owns 274,394 shares of the oil and gas exploration company’s stock valued at $4,925,000 after acquiring an additional 92,560 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Range Resources Corporation by 5.8% during the third quarter. Bank of New York Mellon Corp now owns 1,901,739 shares of the oil and gas exploration company’s stock valued at $37,217,000 after acquiring an additional 104,628 shares during the period. 95.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Range Resources Corporation (NYSE RRC) traded up $0.12 during trading on Friday, hitting $17.20. The stock had a trading volume of 4,620,500 shares, compared to its average volume of 5,890,894. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47. The firm has a market cap of $4,440.00, a PE ratio of 47.44 and a beta of 0.91. Range Resources Corporation has a fifty-two week low of $15.99 and a fifty-two week high of $39.64.
Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $482.20 million for the quarter, compared to analysts’ expectations of $543.16 million. Range Resources Corporation had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. research analysts forecast that Range Resources Corporation will post 0.47 EPS for the current year.
A number of equities research analysts have issued reports on the company. BMO Capital Markets set a $30.00 price target on Range Resources Corporation and gave the company a “buy” rating in a research report on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Range Resources Corporation in a research report on Monday. Morgan Stanley decreased their target price on Range Resources Corporation from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. J P Morgan Chase & Co downgraded Range Resources Corporation from an “overweight” rating to a “neutral” rating and set a $22.00 target price for the company. in a research report on Monday, October 23rd. Finally, Zacks Investment Research raised Range Resources Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $31.89.
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.
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