Amalgamated Bank Sells 1,411 Shares of Range Resources Corporation $RRC

Amalgamated Bank cut its holdings in shares of Range Resources Corporation (NYSE:RRC) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,002 shares of the oil and gas exploration company’s stock after selling 1,411 shares during the period. Amalgamated Bank’s holdings in Range Resources were worth $4,433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hantz Financial Services Inc. increased its position in shares of Range Resources by 1,464.6% during the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 703 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Range Resources during the second quarter worth about $5,720,000. Teacher Retirement System of Texas increased its position in shares of Range Resources by 23.5% during the second quarter. Teacher Retirement System of Texas now owns 54,580 shares of the oil and gas exploration company’s stock worth $2,220,000 after acquiring an additional 10,384 shares in the last quarter. Delta Investment Management LLC bought a new stake in shares of Range Resources during the second quarter worth about $1,965,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Range Resources by 36.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,955 shares of the oil and gas exploration company’s stock worth $649,000 after acquiring an additional 4,230 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Up 2.8%

Range Resources stock opened at $35.58 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.56. The stock has a market cap of $8.43 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.39 and a beta of 0.51. Range Resources Corporation has a fifty-two week low of $29.48 and a fifty-two week high of $43.50. The firm’s 50-day simple moving average is $36.12 and its 200 day simple moving average is $36.96.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $748.53 million for the quarter, compared to analysts’ expectations of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Research analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, September 12th. Range Resources’s payout ratio is presently 15.13%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RRC. JPMorgan Chase & Co. decreased their target price on shares of Range Resources from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company raised shares of Range Resources to a “strong-buy” rating in a research report on Thursday, October 16th. Citigroup cut their price target on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Weiss Ratings cut shares of Range Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Roth Capital cut shares of Range Resources from a “buy” rating to a “neutral” rating and cut their price target for the stock from $44.00 to $35.00 in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.95.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.