Range Resources Co. (NYSE:RRC) Shares Purchased by Sagefield Capital LP

Sagefield Capital LP raised its holdings in shares of Range Resources Co. (NYSE:RRC) by 44.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 906,886 shares of the oil and gas exploration company’s stock after buying an additional 280,452 shares during the quarter. Range Resources comprises 3.2% of Sagefield Capital LP’s investment portfolio, making the stock its 10th largest holding. Sagefield Capital LP owned approximately 0.37% of Range Resources worth $30,408,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the last quarter. Perkins Coie Trust Co acquired a new position in shares of Range Resources during the second quarter worth approximately $67,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources during the second quarter worth approximately $67,000. SYSTM Wealth Solutions LLC lifted its holdings in shares of Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after buying an additional 325 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Range Resources during the second quarter worth approximately $107,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their price target on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group cut their target price on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Susquehanna cut their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. UBS Group cut their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average target price of $36.10.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.57% of the company’s stock.

Range Resources Stock Performance

Range Resources stock opened at $31.53 on Tuesday. The stock has a fifty day moving average price of $30.34 and a two-hundred day moving average price of $33.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $7.65 billion, a P/E ratio of 16.00 and a beta of 1.80. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, analysts anticipate that Range Resources Co. will post 2.07 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, September 13th. Range Resources’s payout ratio is presently 16.24%.

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.