Range Resources Corp. (RRC) Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC raised its position in shares of Range Resources Corp. (NYSE:RRC) by 303.5% in the third quarter, HoldingsChannel reports. The firm owned 82,964 shares of the oil and gas exploration company’s stock after acquiring an additional 62,401 shares during the period. Rafferty Asset Management LLC’s holdings in Range Resources were worth $1,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Range Resources by 26.4% in the 2nd quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock worth $330,575,000 after acquiring an additional 4,132,913 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,997,480 shares of the oil and gas exploration company’s stock worth $150,530,000 after acquiring an additional 1,014,157 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Range Resources by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,804,874 shares of the oil and gas exploration company’s stock worth $47,655,000 after acquiring an additional 93,872 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Range Resources by 34.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock worth $42,184,000 after acquiring an additional 640,077 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Range Resources by 29.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,380,486 shares of the oil and gas exploration company’s stock worth $40,447,000 after acquiring an additional 538,109 shares in the last quarter.

Range Resources stock opened at $14.55 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.72. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.16 and a beta of 0.58. Range Resources Corp. has a fifty-two week low of $11.93 and a fifty-two week high of $18.93.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business had revenue of $811.20 million for the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 EPS. On average, research analysts forecast that Range Resources Corp. will post 1.02 earnings per share for the current year.

Several research firms have recently commented on RRC. Guggenheim reissued a “buy” rating and issued a $22.00 price target on shares of Range Resources in a research report on Wednesday, October 24th. Royal Bank of Canada raised Range Resources to a “hold” rating in a research report on Wednesday, September 26th. B. Riley upped their target price on Range Resources from $22.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, October 18th. TD Securities upped their target price on Range Resources from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, October 17th. Finally, Morgan Stanley set a $18.00 target price on Range Resources and gave the company a “sell” rating in a research report on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.89.

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Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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

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