Reilly Financial Advisors LLC purchased a new stake in Range Resources Corp. (NYSE:RRC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the oil and gas exploration company’s stock, valued at approximately $70,000.
A number of other institutional investors have also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D lifted its stake in shares of Range Resources by 12.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,800,000 shares of the oil and gas exploration company’s stock valued at $12,564,000 after purchasing an additional 200,000 shares during the period. Machina Capital S.A.S. acquired a new stake in Range Resources during the 2nd quarter worth $46,000. NuWave Investment Management LLC raised its stake in Range Resources by 996.7% during the 2nd quarter. NuWave Investment Management LLC now owns 35,083 shares of the oil and gas exploration company’s stock worth $245,000 after buying an additional 31,884 shares during the period. NEXT Financial Group Inc acquired a new stake in Range Resources during the 2nd quarter worth $137,000. Finally, Ingalls & Snyder LLC raised its stake in Range Resources by 6.5% during the 2nd quarter. Ingalls & Snyder LLC now owns 1,138,853 shares of the oil and gas exploration company’s stock worth $7,949,000 after buying an additional 69,200 shares during the period.
RRC has been the topic of several research analyst reports. Citigroup dropped their price objective on Range Resources from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday. Jefferies Financial Group downgraded Range Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $7.00 in a research note on Monday, July 15th. Zacks Investment Research downgraded Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Cowen initiated coverage on Range Resources in a research note on Tuesday, April 9th. They set an “outperform” rating and a $14.00 price objective on the stock. Finally, TD Securities dropped their price objective on Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.53.
Range Resources (NYSE:RRC) last released its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The firm had revenue of $851.43 million for the quarter, compared to the consensus estimate of $672.93 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, sell-side analysts predict that Range Resources Corp. will post 0.44 earnings per share for the current fiscal year.
Range Resources Company 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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