Bp Plc Takes Position in Range Resources Corp. (RRC)

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Bp Plc bought a new position in shares of Range Resources Corp. (NYSE:RRC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,000 shares of the oil and gas exploration company’s stock, valued at approximately $441,000.

Other hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH increased its holdings in Range Resources by 12.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,115,338 shares of the oil and gas exploration company’s stock valued at $16,217,000 after buying an additional 127,571 shares during the period. Fisher Asset Management LLC increased its holdings in Range Resources by 6.6% in the 2nd quarter. Fisher Asset Management LLC now owns 2,711,002 shares of the oil and gas exploration company’s stock valued at $45,355,000 after buying an additional 167,814 shares during the period. Retirement Systems of Alabama increased its holdings in Range Resources by 171.8% in the 2nd quarter. Retirement Systems of Alabama now owns 293,689 shares of the oil and gas exploration company’s stock valued at $4,913,000 after buying an additional 185,648 shares during the period. Westpac Banking Corp increased its holdings in Range Resources by 634.6% in the 2nd quarter. Westpac Banking Corp now owns 77,100 shares of the oil and gas exploration company’s stock valued at $1,290,000 after buying an additional 66,605 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in Range Resources by 344.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 61,300 shares of the oil and gas exploration company’s stock valued at $1,026,000 after buying an additional 47,500 shares during the period.

RRC opened at $17.06 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.53 and a current ratio of 0.56. Range Resources Corp. has a twelve month low of $11.93 and a twelve month high of $19.38. The stock has a market capitalization of $4.34 billion, a PE ratio of 29.41, a PEG ratio of 1.23 and a beta of 0.58.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The business had revenue of $811.20 million for the quarter, compared to analyst estimates of $747.06 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was up 68.2% compared to the same quarter last year. Analysts expect that Range Resources Corp. will post 1.04 earnings per share for the current year.

RRC has been the topic of several analyst reports. TD Securities boosted their price target on shares of Range Resources from $18.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, October 24th. Morgan Stanley lowered their price target on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, August 16th. Piper Jaffray Companies set a $29.00 price target on shares of Range Resources and gave the company a “buy” rating in a report on Tuesday, October 23rd. Macquarie set a $18.00 price target on shares of Range Resources and gave the company a “hold” rating in a report on Wednesday, September 26th. Finally, KLR Group reissued a “buy” rating and issued a $23.00 price target on shares of Range Resources in a report on Monday, August 20th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.55.

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Range Resources Profile

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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