Zurcher Kantonalbank Zurich Cantonalbank Purchases 328 Shares of Range Resources Corporation (NYSE:RRC)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Range Resources Corporation (NYSE:RRC) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,014 shares of the oil and gas exploration company’s stock after buying an additional 328 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Range Resources were worth $2,636,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. raised its position in Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Xponance Inc. raised its holdings in shares of Range Resources by 1.2% in the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company’s stock valued at $1,099,000 after acquiring an additional 326 shares in the last quarter. Fifth Third Bancorp lifted its stake in Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock worth $83,000 after acquiring an additional 355 shares during the period. Kestra Private Wealth Services LLC lifted its stake in Range Resources by 5.7% in the first quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company’s stock worth $266,000 after acquiring an additional 360 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock worth $508,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RRC shares. Wall Street Zen cut shares of Range Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Scotiabank set a $46.00 target price on Range Resources and gave the stock a “sector perform” rating in a report on Friday, July 11th. Roth Mkm raised Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Barclays boosted their price target on Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Finally, Roth Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $43.37.

Range Resources Trading Down 3.1%

Shares of Range Resources stock opened at $35.59 on Friday. The firm’s 50 day simple moving average is $38.84 and its two-hundred day simple moving average is $37.96. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.29 and a beta of 0.60. Range Resources Corporation has a 12-month low of $27.29 and a 12-month high of $43.50. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. The firm had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. During the same period in the prior year, the firm earned $0.46 EPS. Analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio is currently 18.09%.

Insider Transactions at Range Resources

In other Range Resources news, Director James M. Funk sold 13,582 shares of the firm’s 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 approximately $1,905,421.82. This trade represents a 19.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Erin W. Mcdowell sold 9,568 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 13,800 shares in the company, valued at $560,556. This trade represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock valued at $2,984,479 over the last quarter. Company insiders own 1.00% of the company’s stock.

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.