Cwm LLC Acquires 11,353 Shares of Range Resources Corporation (NYSE:RRC)

Cwm LLC boosted its holdings in shares of Range Resources Corporation (NYSE:RRC) by 795.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,780 shares of the oil and gas exploration company’s stock after acquiring an additional 11,353 shares during the period. Cwm LLC’s holdings in Range Resources were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in shares of Range Resources by 23.2% in the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock valued at $4,095,000 after buying an additional 21,440 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Range Resources by 98.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company’s stock valued at $720,000 after buying an additional 8,941 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Range Resources by 24.5% in the 4th quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company’s stock valued at $15,249,000 after buying an additional 83,353 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Range Resources in the 1st quarter valued at about $622,000. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Range Resources by 1.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company’s stock valued at $57,803,000 after buying an additional 25,403 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Performance

Shares of NYSE RRC opened at $36.27 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12 month low of $27.29 and a 12 month high of $43.50. The company has a 50 day simple moving average of $39.26 and a two-hundred day simple moving average of $38.04. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 0.29 and a beta of 0.63.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million during the quarter, compared to analysts’ expectations of $708.38 million. During the same period in the previous year, the business posted $0.46 EPS. As a group, analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, June 13th. Range Resources’s dividend payout ratio (DPR) is 18.09%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent analyst reports. Morgan Stanley set a $41.00 price target on shares of Range Resources in a report on Tuesday, April 15th. Stephens reaffirmed an “overweight” rating and set a $49.00 target price on shares of Range Resources in a research report on Wednesday, April 23rd. Barclays upped their target price on Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Roth Mkm raised Range Resources from a “neutral” rating to a “buy” rating and upped their target price for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Finally, Raymond James Financial lifted their target price on shares of Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus price target of $43.11.

Insider Activity

In other news, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the transaction, the director directly owned 54,394 shares of the company’s stock, valued at $1,905,421.82. The trade was a 19.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of Range Resources stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the transaction, the senior vice president directly owned 13,800 shares of the company’s stock, valued at approximately $560,556. This trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is currently owned by corporate insiders.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.