Radnor Capital Management LLC Buys 2,275 Shares of Range Resources Corporation $RRC

Radnor Capital Management LLC increased its position in Range Resources Corporation (NYSE:RRC) by 5.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 46,188 shares of the oil and gas exploration company’s stock after acquiring an additional 2,275 shares during the quarter. Radnor Capital Management LLC’s holdings in Range Resources were worth $1,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RRC. Nuveen Asset Management LLC increased its stake in shares of Range Resources by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 449,622 shares of the oil and gas exploration company’s stock valued at $16,177,000 after buying an additional 3,037 shares during the period. Man Group plc increased its stake in shares of Range Resources by 69.7% in the fourth quarter. Man Group plc now owns 189,956 shares of the oil and gas exploration company’s stock valued at $6,835,000 after buying an additional 78,002 shares during the period. Quantinno Capital Management LP increased its stake in shares of Range Resources by 64.1% in the fourth quarter. Quantinno Capital Management LP now owns 12,470 shares of the oil and gas exploration company’s stock valued at $449,000 after buying an additional 4,871 shares during the period. ProShare Advisors LLC increased its stake in shares of Range Resources by 7.0% in the fourth quarter. ProShare Advisors LLC now owns 11,289 shares of the oil and gas exploration company’s stock valued at $406,000 after buying an additional 736 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Range Resources by 367.6% in the fourth quarter. Royal Bank of Canada now owns 685,721 shares of the oil and gas exploration company’s stock valued at $24,673,000 after buying an additional 539,083 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of RRC opened at $35.88 on Wednesday. Range Resources Corporation has a 12-month low of $28.99 and a 12-month high of $43.50. The business’s fifty day moving average is $35.27 and its 200 day moving average is $36.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.55 billion, a P/E ratio of 18.03, a P/E/G ratio of 0.30 and a beta of 0.55.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The company had revenue of $856.28 million for the quarter, compared to analysts’ expectations of $708.38 million. During the same period last year, the business earned $0.46 EPS. Sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is currently 18.09%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RRC shares. Barclays upped their price objective on Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. UBS Group lowered their price objective on Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Susquehanna raised their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Mizuho lowered their price target on shares of Range Resources from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Monday. Finally, Bank of America raised their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.45.

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.