Madison Investment Holdings Inc. grew its holdings in Range Resources Corporation (NYSE:RRC) by 21.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 391,200 shares of the oil and gas exploration company’s stock after buying an additional 68,300 shares during the period. Madison Investment Holdings Inc. owned approximately 0.16% of Range Resources worth $7,656,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Range Resources by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after buying an additional 976,293 shares in the last quarter. Sanders Capital LLC grew its stake in shares of Range Resources by 4.5% in the 3rd quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock worth $332,679,000 after buying an additional 673,214 shares in the last quarter. BlackRock Inc. grew its stake in shares of Range Resources 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 in the last quarter. State Street Corp grew its stake in shares of Range Resources by 15.0% in the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock worth $321,059,000 after buying an additional 1,805,404 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Range Resources by 14.1% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 4,951,343 shares of the oil and gas exploration company’s stock worth $96,898,000 after buying an additional 612,032 shares in the last quarter. 95.72% of the stock is owned by institutional investors and hedge funds.
RRC has been the subject of a number of recent research reports. Goldman Sachs Group cut shares of Range Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $20.50 in a research note on Friday, September 8th. Jefferies Group set a $36.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Friday, October 20th. Morgan Stanley lowered their target price on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $32.00 target price on shares of Range Resources in a report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.98.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The company had revenue of $482.20 million during the quarter, compared to analyst estimates of $543.16 million. During the same quarter last year, the business posted ($0.06) EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. equities analysts predict that Range Resources Corporation will post 0.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.48%. Range Resources’s payout ratio is -38.09%.
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Range Resources 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.
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