Herr Investment Group LLC Has $11.23 Million Holdings in Range Resources Co. (NYSE:RRC)

Herr Investment Group LLC decreased its position in shares of Range Resources Co. (NYSE:RRC) by 32.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 334,835 shares of the oil and gas exploration company’s stock after selling 162,776 shares during the quarter. Range Resources accounts for approximately 0.7% of Herr Investment Group LLC’s investment portfolio, making the stock its 11th largest position. Herr Investment Group LLC owned 0.14% of Range Resources worth $11,227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Range Resources by 21.2% in 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 buying an additional 299 shares in the last quarter. SYSTM Wealth Solutions LLC increased its position in Range Resources by 17.9% during the 1st 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. CIBC Asset Management Inc lifted its stake in Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after purchasing an additional 350 shares during the last quarter. Orser Capital Management LLC boosted its position in Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Range Resources by 6.0% during the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after buying an additional 600 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wolfe Research initiated coverage on Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho dropped their price target on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday. Jefferies Financial Group increased their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group lowered their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $36.10.

Range Resources Stock Performance

Shares of RRC stock opened at $30.51 on Friday. The firm has a market capitalization of $7.40 billion, a PE ratio of 15.49 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 Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The firm has a fifty day simple moving average of $30.56 and a two-hundred day simple moving average of $33.52.

Range Resources (NYSE:RRC) last posted 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 analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts forecast 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. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Range Resources Company 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.