Fielder Capital Group LLC Reduces Stock Position in Range Resources Corporation $RRC

Fielder Capital Group LLC cut its holdings in Range Resources Corporation (NYSE:RRC) by 6.8% during the second quarter, HoldingsChannel reports. The fund owned 109,466 shares of the oil and gas exploration company’s stock after selling 7,935 shares during the period. Range Resources comprises 1.2% of Fielder Capital Group LLC’s holdings, making the stock its 24th biggest position. Fielder Capital Group LLC’s holdings in Range Resources were worth $4,452,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in Range Resources in the first quarter valued at approximately $33,000. Bessemer Group Inc. lifted its holdings in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Range Resources in the first quarter valued at approximately $39,000. Barrett & Company Inc. acquired a new position in Range Resources in the second quarter valued at approximately $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Range Resources in the second quarter valued at approximately $45,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup decreased their price objective on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. Susquehanna decreased their price objective on Range Resources to $39.00 and set a “neutral” rating on the stock in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Range Resources in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their price target on Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on Range Resources from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.05.

Range Resources Stock Up 0.3%

Range Resources stock opened at $37.61 on Friday. The firm has a market capitalization of $8.96 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.42 and a beta of 0.51. The stock’s fifty day simple moving average is $35.84 and its 200-day simple moving average is $36.80. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a twelve month low of $29.48 and a twelve month high of $43.50.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, equities analysts expect that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s dividend payout ratio is 18.09%.

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.