Mutual of America Capital Management LLC Acquires 65,484 Shares of Range Resources Corporation (RRC)

Mutual of America Capital Management LLC lifted its holdings in Range Resources Corporation (NYSE:RRC) by 31.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,431 shares of the oil and gas exploration company’s stock after buying an additional 65,484 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.11% of Range Resources Corporation worth $6,382,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Range Resources Corporation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 22,226,210 shares of the oil and gas exploration company’s stock worth $646,783,000 after buying an additional 687,967 shares during the period. Sanders Capital LLC grew its position in shares of Range Resources Corporation by 6.7% in the 2nd quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock worth $379,186,000 after buying an additional 932,706 shares during the period. BlackRock Inc. grew its position in shares of Range Resources Corporation by 6.8% in the 2nd quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock worth $324,936,000 after buying an additional 890,348 shares during the period. State Street Corp grew its position in shares of Range Resources Corporation by 2.4% in the 1st quarter. State Street Corp now owns 12,051,572 shares of the oil and gas exploration company’s stock worth $350,697,000 after buying an additional 284,490 shares during the period. Finally, Stelliam Investment Management LP grew its position in shares of Range Resources Corporation by 21.9% in the 1st quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock worth $166,525,000 after buying an additional 1,027,500 shares during the period. 95.51% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Mary Ralph Lowe purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was bought at an average cost of $17.99 per share, with a total value of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steffen E. Palko purchased 15,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the director now directly owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Insiders acquired 26,000 shares of company stock valued at $449,800 over the last three months. 0.42% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Mutual of America Capital Management LLC Acquires 65,484 Shares of Range Resources Corporation (RRC)” was originally reported by Week Herald and is owned by of Week Herald. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://weekherald.com/2017/09/20/mutual-of-america-capital-management-llc-acquires-65484-shares-of-range-resources-corporation-rrc.html.

Range Resources Corporation (NYSE RRC) traded up 2.00% during midday trading on Wednesday, reaching $19.42. 1,254,090 shares of the company traded hands. The firm has a 50-day moving average of $17.82 and a 200-day moving average of $23.24. Range Resources Corporation has a 1-year low of $16.00 and a 1-year high of $40.20. The stock has a market capitalization of $4.74 billion, a P/E ratio of 131.22 and a beta of 0.94.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The company had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same period in the previous year, the company posted ($1.35) earnings per share. Range Resources Corporation’s revenue for the quarter was up 55.8% on a year-over-year basis. On average, analysts predict that Range Resources Corporation will post $0.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Thursday, September 14th. Range Resources Corporation’s payout ratio is presently 100.01%.

RRC has been the topic of a number of recent research reports. BidaskClub raised shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada set a $44.00 price objective on shares of Range Resources Corporation and gave the company a “buy” rating in a research report on Saturday, June 3rd. Cowen and Company reissued a “buy” rating and set a $35.00 price objective on shares of Range Resources Corporation in a research report on Tuesday, August 22nd. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective on shares of Range Resources Corporation in a research report on Thursday, September 14th. Finally, Barclays PLC cut their price objective on shares of Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Range Resources Corporation currently has an average rating of “Buy” and a consensus target price of $37.77.

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.

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Corporation (NYSE:RRC).

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

Receive News & Ratings for Range Resources Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply