Sanders Capital LLC Has $379.19 Million Stake in Range Resources Corporation (RRC)

Sanders Capital LLC boosted its stake in shares of Range Resources Corporation (NYSE:RRC) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,812,151 shares of the oil and gas exploration company’s stock after buying an additional 932,706 shares during the period. Range Resources Corporation makes up 2.2% of Sanders Capital LLC’s holdings, making the stock its 20th largest position. Sanders Capital LLC owned 6.09% of Range Resources Corporation worth $379,186,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RRC. Northwestern Mutual Wealth Management Co. increased its stake in Range Resources Corporation by 0.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 31 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Range Resources Corporation by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock worth $271,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. boosted its position in Range Resources Corporation by 1.1% in the first quarter. Capstone Asset Management Co. now owns 12,374 shares of the oil and gas exploration company’s stock worth $360,000 after buying an additional 140 shares in the last quarter. Advantus Capital Management Inc boosted its position in Range Resources Corporation by 1.0% in the first quarter. Advantus Capital Management Inc now owns 18,832 shares of the oil and gas exploration company’s stock worth $548,000 after buying an additional 185 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Range Resources Corporation by 7.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,756 shares of the oil and gas exploration company’s stock worth $109,000 after buying an additional 257 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Shares of Range Resources Corporation (RRC) opened at 17.94 on Friday. Range Resources Corporation has a 52-week low of $16.50 and a 52-week high of $43.60. The stock has a market cap of $4.38 billion, a PE ratio of 121.22 and a beta of 0.92. The company’s 50-day moving average is $20.21 and its 200-day moving average is $25.31.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.20. The firm had revenue of $565 million for the quarter, compared to analysts’ expectations of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The firm’s revenue was up 55.8% on a year-over-year basis. During the same period in the prior year, the company earned ($1.35) EPS. Equities analysts anticipate that Range Resources Corporation will post $0.52 EPS for the current year.

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Several analysts recently issued reports on the company. Zacks Investment Research raised Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, July 17th. Barclays PLC lowered their price objective on shares of Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, August 3rd. Citigroup Inc. lowered their price objective on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a report on Friday, July 21st. BMO Capital Markets set a $35.00 price objective on shares of Range Resources Corporation and gave the stock a “buy” rating in a report on Monday, June 26th. Finally, KLR Group lifted their target price on shares of Range Resources Corporation from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $39.97.

In related news, Director Mary Ralph Lowe purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $17.99 per share, with a total value of $179,900.00. Following the completion of the transaction, the director now owns 25,413 shares of the company’s stock, valued at $457,179.87. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steffen E. Palko acquired 15,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $16.81 per share, with a total value of $252,150.00. Following the acquisition, the director now owns 27,267 shares of the company’s stock, valued at $458,358.27. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 30,000 shares of company stock worth $541,640 and sold 36,521 shares worth $842,742. Company insiders own 2.40% of the company’s stock.

Range Resources Corporation Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

Institutional Ownership by Quarter for Range Resources Corporation (NYSE:RRC)

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