Stifel Financial Corp Lowers Holdings in Range Resources Corporation (RRC)

Stifel Financial Corp decreased its position in Range Resources Corporation (NYSE:RRC) by 45.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,453 shares of the oil and gas exploration company’s stock after selling 18,830 shares during the period. Stifel Financial Corp’s holdings in Range Resources were worth $438,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Matthew 25 Management Corp boosted its stake in shares of Range Resources by 166.7% during the second quarter. Matthew 25 Management Corp now owns 80,000 shares of the oil and gas exploration company’s stock valued at $1,854,000 after acquiring an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Range Resources by 7.7% during the second quarter. JPMorgan Chase & Co. now owns 2,726,118 shares of the oil and gas exploration company’s stock valued at $63,163,000 after acquiring an additional 194,141 shares during the last quarter. Ninepoint Partners LP acquired a new stake in shares of Range Resources during the third quarter valued at $1,155,000. South Dakota Investment Council boosted its stake in shares of Range Resources by 144.6% during the second quarter. South Dakota Investment Council now owns 87,800 shares of the oil and gas exploration company’s stock valued at $2,034,000 after acquiring an additional 51,900 shares during the last quarter. Finally, CI Investments Inc. boosted its stake in shares of Range Resources by 124.4% during the second quarter. CI Investments Inc. now owns 131,700 shares of the oil and gas exploration company’s stock valued at $3,051,000 after acquiring an additional 73,000 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors.

Range Resources Corporation (NYSE RRC) opened at $17.06 on Monday. The company has a market capitalization of $4,233.26, a PE ratio of -81.23 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. Range Resources Corporation has a twelve month low of $15.33 and a twelve month high of $36.40.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. equities research analysts anticipate that Range Resources Corporation will post 0.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a $0.02 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.47%. Range Resources’s dividend payout ratio (DPR) is -38.09%.

In other news, CFO Roger S. Manny sold 10,757 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total value of $176,629.94. Following the completion of the sale, the chief financial officer now owns 143,703 shares in the company, valued at $2,359,603.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David P. Poole sold 30,920 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total value of $505,851.20. Following the completion of the sale, the vice president now owns 17,647 shares of the company’s stock, valued at approximately $288,704.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,574 shares of company stock worth $729,007. Company insiders own 0.42% of the company’s stock.

RRC has been the topic of a number of analyst reports. BMO Capital Markets set a $30.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group reiterated a “buy” rating and set a $25.00 target price on shares of Range Resources in a research report on Tuesday, October 10th. Scotiabank reiterated a “buy” rating and set a $30.00 target price on shares of Range Resources in a research report on Monday, October 9th. Stifel Nicolaus set a $21.00 target price on Range Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $32.00 target price on shares of Range Resources in a research report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Range Resources currently has an average rating of “Buy” and an average price target of $30.02.

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Range Resources Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily 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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