85,913 Shares in Range Resources Corp. (NYSE:RRC) Purchased by Cerebellum GP LLC

Cerebellum GP LLC acquired a new position in Range Resources Corp. (NYSE:RRC) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 85,913 shares of the oil and gas exploration company’s stock, valued at approximately $328,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Machina Capital S.A.S. bought a new position in Range Resources in the 2nd quarter valued at about $46,000. M&T Bank Corp purchased a new stake in Range Resources during the second quarter valued at about $69,000. Reilly Financial Advisors LLC purchased a new stake in Range Resources during the second quarter valued at about $70,000. MML Investors Services LLC purchased a new stake in Range Resources during the second quarter valued at about $76,000. Finally, Brown Advisory Inc. purchased a new stake in Range Resources during the second quarter valued at about $85,000.

Shares of NYSE RRC opened at $3.50 on Wednesday. The stock has a market cap of $902.45 million, a PE ratio of 3.10, a PEG ratio of 3.23 and a beta of 1.02. The business has a fifty day moving average of $4.00 and a two-hundred day moving average of $6.55. Range Resources Corp. has a 52-week low of $3.26 and a 52-week high of $18.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.75.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The company had revenue of $851.43 million during the quarter, compared to analysts’ expectations of $672.93 million. During the same period last year, the business earned $0.20 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis. Analysts predict that Range Resources Corp. will post 0.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.02 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.29%. Range Resources’s dividend payout ratio is 7.08%.

A number of analysts have commented on the stock. Morgan Stanley set a $4.00 price objective on shares of Range Resources and gave the company a “sell” rating in a research note on Monday, June 24th. MKM Partners upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Monday, August 19th. TD Securities decreased their price target on shares of Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a research note on Friday, July 26th. Citigroup decreased their price target on shares of Range Resources from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Finally, Jefferies Financial Group downgraded shares of Range Resources from a “buy” rating to a “hold” rating and decreased their price target for the stock from $17.00 to $7.00 in a research note on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $12.18.

In other Range Resources news, CFO Mark Scucchi purchased 9,483 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $5.27 per share, with a total value of $49,975.41. Following the completion of the acquisition, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at approximately $74,565.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret K. Dorman purchased 20,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $3.40 per share, with a total value of $69,700.00. Following the completion of the acquisition, the director now directly owns 57,233 shares of the company’s stock, valued at $194,592.20. The disclosure for this purchase can be found here. Insiders purchased 42,938 shares of company stock valued at $176,159 over the last ninety days. 0.35% of the stock is currently owned by company insiders.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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