Hartree Partners LP Invests $3.65 Million in Range Resources Corp. (RRC)

Hartree Partners LP bought a new stake in shares of Range Resources Corp. (NYSE:RRC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 215,000 shares of the oil and gas exploration company’s stock, valued at approximately $3,653,000. Range Resources accounts for approximately 1.8% of Hartree Partners LP’s portfolio, making the stock its 19th largest holding. Hartree Partners LP owned 0.09% of Range Resources at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in RRC. Soros Fund Management LLC bought a new stake in shares of Range Resources in the 2nd quarter worth $2,928,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Range Resources by 84.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 64,980 shares of the oil and gas exploration company’s stock worth $1,087,000 after acquiring an additional 29,676 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Range Resources by 11.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 76,671 shares of the oil and gas exploration company’s stock worth $1,282,000 after acquiring an additional 8,054 shares in the last quarter. Putnam Investments LLC bought a new stake in shares of Range Resources in the 2nd quarter worth $776,000. Finally, IFP Advisors Inc grew its stake in shares of Range Resources by 16.2% in the 3rd quarter. IFP Advisors Inc now owns 37,533 shares of the oil and gas exploration company’s stock worth $638,000 after acquiring an additional 5,231 shares in the last quarter.

Several analysts have recently issued reports on the stock. Morgan Stanley set a $18.00 target price on shares of Range Resources and gave the stock a “sell” rating in a research note on Friday, October 12th. Guggenheim reiterated a “buy” rating and issued a $22.00 target price on shares of Range Resources in a research note on Wednesday, October 24th. Macquarie set a $18.00 target price on shares of Range Resources and gave the stock a “hold” rating in a research note on Wednesday, September 26th. KLR Group reiterated a “buy” rating and issued a $23.00 target price on shares of Range Resources in a research note on Monday, August 20th. Finally, B. Riley upped their target price on shares of Range Resources from $22.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.89.

Shares of RRC opened at $14.55 on Monday. The company has a market capitalization of $3.63 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.14 and a beta of 0.56. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.72. Range Resources Corp. has a 1-year low of $11.93 and a 1-year high of $18.93.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.28% and a return on equity of 4.85%. Range Resources’s quarterly revenue was up 68.2% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. On average, analysts anticipate that Range Resources Corp. will post 1.02 EPS for the current fiscal year.

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About Range Resources

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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