KGH Ltd Buys 190,000 Shares of Range Resources Co. (NYSE:RRC)

KGH Ltd boosted its position in Range Resources Co. (NYSE:RRC) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,080,000 shares of the oil and gas exploration company’s stock after purchasing an additional 190,000 shares during the period. Range Resources comprises 11.9% of KGH Ltd’s investment portfolio, making the stock its biggest position. KGH Ltd owned approximately 2.51% of Range Resources worth $203,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in Range Resources during the second quarter worth approximately $67,000. International Assets Investment Management LLC acquired a new position in Range Resources in the 2nd quarter valued at $67,000. SYSTM Wealth Solutions LLC lifted its stake in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Range Resources during the second quarter worth $107,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is currently owned by corporate insiders.

Range Resources Trading Up 0.1 %

NYSE RRC opened at $30.76 on Tuesday. The company’s fifty day simple moving average is $30.06 and its 200-day simple moving average is $33.42. The stock has a market cap of $7.46 billion, a P/E ratio of 15.61 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. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Range Resources Co. will post 1.87 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.04%. Range Resources’s dividend payout ratio is presently 16.24%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their price target on Range Resources from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group dropped their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Mizuho decreased their price target on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Jefferies Financial Group boosted their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.53.

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.