19,045 Shares in Range Resources Co. (NYSE:RRC) Acquired by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. bought a new stake in shares of Range Resources Co. (NYSE:RRC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,045 shares of the oil and gas exploration company’s stock, valued at approximately $639,000.

A number of other institutional investors also recently added to or reduced their stakes in RRC. Fifth Third Bancorp raised its stake in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Range Resources in the 2nd quarter worth approximately $67,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources during the second quarter valued at approximately $67,000. SYSTM Wealth Solutions LLC raised its holdings in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Range Resources in the second quarter worth approximately $107,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.57% of the stock is currently owned by company insiders.

Range Resources Stock Up 3.0 %

Shares of Range Resources stock opened at $31.53 on Tuesday. The stock has a 50-day moving average price of $30.34 and a 200 day moving average price of $33.49. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a market cap of $7.65 billion, a P/E ratio of 16.00 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. During the same period last year, the company earned $0.27 earnings per share. Range Resources’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Range Resources Co. will post 2.07 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s payout ratio is presently 16.24%.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of research reports. Wolfe Research assumed coverage on Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group reduced their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, August 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $36.10.

Range Resources Profile

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.