Hartford Investment Management Co. increased its position in Range Resources Corporation (NYSE:RRC) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,459 shares of the oil and gas exploration company’s stock after purchasing an additional 7,609 shares during the period. Hartford Investment Management Co.’s holdings in Range Resources were worth $948,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its stake in Range Resources by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after acquiring an additional 64 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Range Resources by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock valued at $271,000 after acquiring an additional 100 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Range Resources by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 91,236 shares of the oil and gas exploration company’s stock valued at $2,114,000 after acquiring an additional 305 shares in the last quarter. M&T Bank Corp lifted its stake in Range Resources by 1.3% during the 2nd quarter. M&T Bank Corp now owns 27,472 shares of the oil and gas exploration company’s stock valued at $639,000 after acquiring an additional 360 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in Range Resources by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock valued at $179,000 after acquiring an additional 412 shares in the last quarter. Institutional investors own 95.72% of the company’s stock.
Several equities analysts have weighed in on the company. ValuEngine upgraded Range Resources from a “sell” rating to a “hold” rating in a research note on Friday. Scotiabank set a $27.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Saturday, November 25th. BMO Capital Markets set a $30.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Tuesday, November 14th. KeyCorp restated a “hold” rating on shares of Range Resources in a research note on Monday, November 13th. Finally, Morgan Stanley dropped their price objective on Range Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources has a consensus rating of “Buy” and a consensus price target of $31.76.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The company had revenue of $482.20 million during the quarter, compared to analyst estimates of $543.16 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. sell-side analysts predict that Range Resources Corporation will post 0.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.45%. The ex-dividend date is Thursday, December 14th. Range Resources’s dividend payout ratio (DPR) is currently -38.10%.
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Range Resources 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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