Oppenheimer Asset Management Inc. Buys 4,230 Shares of Range Resources Corporation $RRC

Oppenheimer Asset Management Inc. grew its stake in shares of Range Resources Corporation (NYSE:RRC) by 36.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,955 shares of the oil and gas exploration company’s stock after buying an additional 4,230 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Range Resources were worth $649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Range Resources by 4.7% during the 2nd quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after acquiring an additional 270 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Range Resources by 0.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock valued at $2,981,000 after purchasing an additional 299 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Range Resources by 48.0% in 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 during the last quarter. Xponance Inc. boosted its position in Range Resources by 1.2% during 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Range Resources by 0.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock worth $2,636,000 after buying an additional 328 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research analyst reports. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Morgan Stanley dropped their price target on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their target price on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Raymond James Financial cut their price target on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. Finally, Citigroup cut their price target on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.95.

Range Resources Stock Up 2.8%

Shares of NYSE RRC opened at $35.58 on Friday. Range Resources Corporation has a one year low of $29.48 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.55. The business’s fifty day moving average price is $36.12 and its 200-day moving average price is $36.93. The stock has a market capitalization of $8.47 billion, a PE ratio of 14.95, a P/E/G ratio of 0.39 and a beta of 0.51.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $748.53 million for the quarter, compared to analysts’ expectations of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, equities research analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio is currently 15.13%.

About Range Resources

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.