River & Mercantile Asset Management LLP Boosts Holdings in Range Resources Corp. (RRC)

River & Mercantile Asset Management LLP raised its position in Range Resources Corp. (NYSE:RRC) by 8.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 196,061 shares of the oil and gas exploration company’s stock after purchasing an additional 14,835 shares during the period. River & Mercantile Asset Management LLP owned about 0.08% of Range Resources worth $3,330,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Range Resources by 26.4% during the second quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock valued at $330,575,000 after acquiring an additional 4,132,913 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Range Resources by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 9,193,291 shares of the oil and gas exploration company’s stock valued at $156,194,000 after acquiring an additional 195,811 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Range Resources by 3.5% during the third quarter. Fisher Asset Management LLC now owns 2,804,874 shares of the oil and gas exploration company’s stock valued at $47,655,000 after acquiring an additional 93,872 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Range Resources by 34.0% during the second quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock valued at $42,184,000 after acquiring an additional 640,077 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Range Resources by 29.2% during the third quarter. Russell Investments Group Ltd. now owns 2,380,486 shares of the oil and gas exploration company’s stock valued at $40,447,000 after acquiring an additional 538,109 shares during the last quarter.

Shares of NYSE:RRC opened at $13.84 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.72. Range Resources Corp. has a 12-month low of $11.93 and a 12-month high of $18.59. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.55.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The firm had revenue of $811.20 million for the quarter, compared to analyst estimates of $747.06 million. During the same period last year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. Sell-side analysts expect that Range Resources Corp. will post 1.02 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, December 13th. Range Resources’s payout ratio is 13.79%.

A number of analysts recently commented on RRC shares. Royal Bank of Canada set a $21.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Thursday, September 20th. Morgan Stanley decreased their price objective on Range Resources from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Thursday, August 16th. Stephens started coverage on Range Resources in a research note on Thursday. They set an “equal weight” rating and a $21.00 price objective on the stock. TD Securities increased their price objective on Range Resources from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $29.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.60.

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

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