Whittier Trust Co. Lowers Position in Range Resources Corporation (RRC)

Whittier Trust Co. reduced its position in shares of Range Resources Corporation (NYSE:RRC) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,281 shares of the oil and gas exploration company’s stock after selling 19 shares during the period. Whittier Trust Co.’s holdings in Range Resources Corporation were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RRC. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 worth $119,000 after buying an additional 31 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of 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 during the last quarter. Capstone Asset Management Co. raised its stake in shares of 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 during the last quarter. Advantus Capital Management Inc raised its stake in shares of 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 during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Shares of Range Resources Corporation (NYSE RRC) traded up 2.75% during midday trading on Friday, reaching $17.94. 6,681,694 shares of the company were exchanged. Range Resources Corporation has a 52-week low of $16.50 and a 52-week high of $43.60. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 121.22 and a beta of 0.92. The company’s 50-day moving average price is $20.21 and its 200 day moving average price is $25.31.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. The company had revenue of $565 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.35) EPS. On average, equities analysts predict that Range Resources Corporation will post $0.52 earnings per share for the current year.

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RRC has been the topic of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $41.00 target price on shares of Range Resources Corporation in a research report on Monday, May 1st. Citigroup Inc. cut their price objective on Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Range Resources Corporation in a research report on Tuesday, April 25th. Scotiabank reaffirmed a “buy” rating and set a $44.00 price objective on shares of Range Resources Corporation in a research report on Friday, April 21st. Finally, Wells Fargo & Company raised Range Resources Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources Corporation has a consensus rating of “Buy” and a consensus price target of $39.97.

In related news, Director Steffen E. Palko purchased 15,000 shares of Range Resources Corporation stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $16.81 per share, with a total value of $252,150.00. Following the purchase, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Chad L. Stephens sold 28,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $23.05, for a total transaction of $662,549.20. Following the completion of the sale, the insider now directly owns 106,692 shares of the company’s stock, valued at $2,459,250.60. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 30,000 shares of company stock valued at $541,640 and sold 36,521 shares valued at $842,742. Corporate 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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