OppenheimerFunds Inc. lowered its holdings in Range Resources Corp. (NYSE:RRC) by 68.2% in the first quarter, HoldingsChannel.com reports. The fund owned 30,532 shares of the oil and gas exploration company’s stock after selling 65,576 shares during the quarter. OppenheimerFunds Inc.’s holdings in Range Resources were worth $444,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Lombard Odier Asset Management Switzerland SA acquired a new stake in Range Resources in the fourth quarter valued at $854,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Range Resources by 58.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 36,635 shares of the oil and gas exploration company’s stock valued at $625,000 after acquiring an additional 13,500 shares during the period. SailingStone Capital Partners LLC lifted its holdings in Range Resources by 7.9% in the fourth quarter. SailingStone Capital Partners LLC now owns 35,832,571 shares of the oil and gas exploration company’s stock valued at $611,304,000 after acquiring an additional 2,623,957 shares during the period. Mackenzie Financial Corp raised its stake in shares of Range Resources by 2,708.2% during the 4th quarter. Mackenzie Financial Corp now owns 3,057,252 shares of the oil and gas exploration company’s stock worth $52,157,000 after buying an additional 2,948,384 shares during the last quarter. Finally, Advisor Partners LLC acquired a new position in shares of Range Resources during the 1st quarter worth $209,000. 96.48% of the stock is owned by institutional investors.
Get Range Resources alerts:Range Resources opened at $16.99 on Friday, MarketBeat reports. The stock has a market cap of $4.23 billion, a P/E ratio of 29.29, a P/E/G ratio of 1.24 and a beta of 0.60. Range Resources Corp. has a 52 week low of $11.93 and a 52 week high of $23.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.50 and a quick ratio of 0.45.
Range Resources (NYSE:RRC) last posted its quarterly earnings data on Wednesday, April 25th. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. The firm had revenue of $742.60 million during the quarter, compared to analysts’ expectations of $725.60 million. Range Resources had a return on equity of 4.36% and a net margin of 8.24%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. sell-side analysts forecast that Range Resources Corp. will post 0.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.47%. The ex-dividend date is Thursday, June 14th. Range Resources’s dividend payout ratio (DPR) is 13.79%.
RRC has been the subject of several research reports. B. Riley set a $17.00 price target on Range Resources and gave the stock a “hold” rating in a research note on Friday, March 9th. Wells Fargo & Co downgraded Range Resources to a “market perform” rating in a research note on Tuesday, March 27th. KLR Group reaffirmed a “buy” rating and set a $27.00 price target (up previously from $26.00) on shares of Range Resources in a research note on Thursday, March 1st. Morgan Stanley lifted their price target on Range Resources from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, April 20th. Finally, Citigroup downgraded Range Resources from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Tuesday, April 17th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.28.
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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