Hsbc Holdings PLC Sells 2,165 Shares of Range Resources Corp. (NYSE:RRC)

Hsbc Holdings PLC lessened its holdings in Range Resources Corp. (NYSE:RRC) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,914 shares of the oil and gas exploration company’s stock after selling 2,165 shares during the period. Hsbc Holdings PLC’s holdings in Range Resources were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RRC. Retirement Systems of Alabama increased its position in Range Resources by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 268,503 shares of the oil and gas exploration company’s stock worth $2,570,000 after purchasing an additional 933 shares during the last quarter. Wesbanco Bank Inc. increased its position in Range Resources by 5.6% during the fourth quarter. Wesbanco Bank Inc. now owns 18,908 shares of the oil and gas exploration company’s stock worth $181,000 after purchasing an additional 1,000 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in Range Resources by 3.0% during the fourth quarter. Virginia Retirement Systems ET AL now owns 44,600 shares of the oil and gas exploration company’s stock worth $427,000 after purchasing an additional 1,300 shares during the last quarter. Arizona State Retirement System increased its position in Range Resources by 1.1% during the fourth quarter. Arizona State Retirement System now owns 148,636 shares of the oil and gas exploration company’s stock worth $1,422,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Range Resources by 11.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,756 shares of the oil and gas exploration company’s stock worth $160,000 after purchasing an additional 1,659 shares during the last quarter.

RRC has been the subject of several research analyst reports. TheStreet lowered shares of Range Resources from a “c” rating to a “d” rating in a research report on Wednesday, March 13th. SunTrust Banks decreased their price objective on shares of Range Resources to $12.00 and set a “hold” rating for the company in a research note on Tuesday, January 8th. Morgan Stanley set a $11.00 price objective on shares of Range Resources and gave the stock a “sell” rating in a research note on Tuesday, January 29th. B. Riley set a $21.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Finally, TD Securities reiterated a “hold” rating and set a $11.00 price objective (down from $15.00) on shares of Range Resources in a research note on Wednesday, February 27th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.51.

NYSE RRC traded down $0.40 during trading hours on Friday, reaching $9.75. 12,196,463 shares of the company traded hands, compared to its average volume of 6,495,593. Range Resources Corp. has a 12 month low of $9.22 and a 12 month high of $18.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.77. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Monday, February 25th. The oil and gas exploration company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $736.35 million. Range Resources had a negative net margin of 53.20% and a positive return on equity of 5.20%. The firm’s revenue was up 58.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. As a group, analysts anticipate that Range Resources Corp. will post 0.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.82%. Range Resources’s dividend payout ratio (DPR) is 7.08%.

In other news, Director Steven D. Gray acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $10.95 per share, with a total value of $219,000.00. Following the acquisition, the director now directly owns 7,804 shares in the company, valued at $85,453.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James M. Funk acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $9.80 per share, for a total transaction of $98,000.00. Following the acquisition, the director now owns 22,706 shares in the company, valued at $222,518.80. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

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Range Resources Profile

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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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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