Ameritas Advisory Services LLC Acquires New Position in Range Resources Corporation $RRC

Ameritas Advisory Services LLC acquired a new stake in Range Resources Corporation (NYSE:RRC) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,147 shares of the oil and gas exploration company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RRC. King Luther Capital Management Corp grew its holdings in shares of Range Resources by 2,522.3% during the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company’s stock worth $32,888,000 after purchasing an additional 792,240 shares in the last quarter. AQR Capital Management LLC lifted its position in Range Resources by 3,222.9% in the first quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company’s stock valued at $21,528,000 after purchasing an additional 522,910 shares during the last quarter. Nuveen LLC bought a new position in shares of Range Resources during the first quarter valued at approximately $19,396,000. Wellington Management Group LLP raised its holdings in shares of Range Resources by 50.1% during the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock valued at $56,103,000 after acquiring an additional 468,841 shares in the last quarter. Finally, Beck Bode LLC purchased a new stake in Range Resources in the first quarter worth $15,651,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Price Performance

Shares of Range Resources stock opened at $37.03 on Tuesday. The stock has a 50 day moving average price of $35.45 and a 200-day moving average price of $36.81. Range Resources Corporation has a one year low of $28.99 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 0.32 and a beta of 0.51.

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

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources’s payout ratio is presently 18.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RRC. Royal Bank Of Canada increased their target price on Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. UBS Group lowered their target price on Range Resources from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Scotiabank set a $46.00 price objective on Range Resources and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Raymond James Financial decreased their price objective on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, September 19th. Finally, Mizuho increased their target price on Range Resources from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $42.00.

Range Resources Company 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.