Cox Capital Mgt LLC Takes $1.10 Million Position in Range Resources Corporation $RRC

Cox Capital Mgt LLC purchased a new position in shares of Range Resources Corporation (NYSE:RRC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,287 shares of the oil and gas exploration company’s stock, valued at approximately $1,102,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RRC. Texas Permanent School Fund Corp grew its holdings in shares of Range Resources by 9.0% during the second quarter. Texas Permanent School Fund Corp now owns 160,243 shares of the oil and gas exploration company’s stock worth $6,517,000 after buying an additional 13,276 shares in the last quarter. Osaic Holdings Inc. boosted its position in Range Resources by 15.9% during the second quarter. Osaic Holdings Inc. now owns 13,324 shares of the oil and gas exploration company’s stock worth $542,000 after acquiring an additional 1,828 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Range Resources by 70.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 96,616 shares of the oil and gas exploration company’s stock valued at $3,929,000 after acquiring an additional 40,038 shares in the last quarter. Castleark Management LLC grew its stake in Range Resources by 44.1% during the 2nd quarter. Castleark Management LLC now owns 201,730 shares of the oil and gas exploration company’s stock valued at $8,204,000 after acquiring an additional 61,710 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Range Resources by 17.8% in the 2nd quarter. Captrust Financial Advisors now owns 25,538 shares of the oil and gas exploration company’s stock valued at $1,039,000 after acquiring an additional 3,861 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RRC. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Wells Fargo & Company raised Range Resources to a “strong-buy” rating in a research note on Thursday, October 16th. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Susquehanna dropped their price objective on shares of Range Resources to $39.00 and set a “neutral” rating for the company in a report on Monday, October 20th. Finally, Raymond James Financial reduced their target price on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.05.

Range Resources Stock Up 2.7%

Shares of NYSE:RRC opened at $35.39 on Thursday. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.26 and a beta of 0.47. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $43.50. The business has a 50-day moving average price of $37.42 and a 200 day moving average price of $37.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

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

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, December 12th. Range Resources’s dividend payout ratio (DPR) is 15.13%.

About Range Resources

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.