Fisher Asset Management LLC Sells 211,392 Shares of Range Resources Corporation $RRC

Fisher Asset Management LLC decreased its holdings in Range Resources Corporation (NYSE:RRC) by 20.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 824,406 shares of the oil and gas exploration company’s stock after selling 211,392 shares during the quarter. Fisher Asset Management LLC’s holdings in Range Resources were worth $33,529,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Boston Partners increased its stake in shares of Range Resources by 6.1% in the second quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company’s stock valued at $301,133,000 after buying an additional 425,704 shares in the last quarter. Kopernik Global Investors LLC grew its holdings in Range Resources by 5.2% during the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company’s stock worth $113,667,000 after acquiring an additional 140,043 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Range Resources by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company’s stock valued at $85,899,000 after acquiring an additional 38,648 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Range Resources by 50.1% in the first quarter. Wellington Management Group LLP now owns 1,405,033 shares of the oil and gas exploration company’s stock worth $56,103,000 after acquiring an additional 468,841 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of Range Resources by 14.5% during the second quarter. Jefferies Financial Group Inc. now owns 1,109,531 shares of the oil and gas exploration company’s stock worth $45,125,000 after purchasing an additional 140,772 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RRC. Weiss Ratings reissued a “hold (c)” rating on shares of Range Resources in a report on Monday. Susquehanna decreased their price objective on Range Resources to $39.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Morgan Stanley dropped their target price on Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Citigroup cut their price target on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. Finally, Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.85.

Range Resources Stock Down 2.9%

Shares of Range Resources stock opened at $38.11 on Wednesday. The business has a fifty day simple moving average of $37.64 and a 200 day simple moving average of $37.29. The stock has a market cap of $9.03 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.39 and a beta of 0.49. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12 month low of $30.32 and a 12 month high of $43.50.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Research analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Range Resources’s payout ratio is currently 15.13%.

Range Resources Company Profile

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.