Cubist Systematic Strategies LLC trimmed its holdings in Range Resources Co. (NYSE: RRC – Get Rating) by 56.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,221 shares of the oil and gas exploration company stock after selling 299,618 shares during the period. Cubist Systematic Strategies LLC owned 0.09% of Range Resources worth $ 4,087,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in RRC. PDT Partners LLC acquired a new position in Range Resources during the fourth quarter valued at approximately $ 734,000. Assenagon Asset Management SA raised its position in Range Resources by 284.0% during the fourth quarter. Assenagon Asset Management SA now owns 1,685,239 shares of the oil and gas exploration company stock valued at $ 30,048,000 after purchasing an additional 1,246,362 shares in the last quarter. New York State Teachers Retirement System raised its position in Range Resources by 2.4% during the fourth quarter. New York State Teachers Retirement System now owns 366,495 shares of oil and gas exploration company stock valued at $ 6,535,000 after purchasing an additional 8,545 shares in the last quarter. Credit Suisse AG raised its position in Range Resources by 5.7% during the fourth quarter. Credit Suisse AG now owns 634,008 shares of the oil and gas exploration company stock valued at $ 11,305,000 after purchasing an additional 34,001 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Range Resources by 223.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,093,208 shares of the oil and gas exploration company stock valued at $ 108,642,000 after purchasing an additional 4,209,030 shares in the last quarter. Institutional investors own 90.05% of the company stock.
Shares of RRC opened at $ 34.44 on Friday. The firm’s fifty day simple moving average is $ 31.55 and its two-hundred day simple moving average is $ 25.18. Range Resources Co. has a 12 month low of $ 12.37 and a 12 month high of $ 37.44. The stock has a market capitalization of $ 9.29 billion, a P / E ratio of -71.75, a price-to-earnings-growth ratio of 0.28 and a beta of 1.98. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.14.
Range Resources (NYSE: RRC – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The oil and gas exploration company reported $ 1.18 earnings per share for the quarter, beating the consensus estimate of $ 1.15 by $ 0.03. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. The firm had revenue of $ 986.66 million for the quarter, compared to analyst estimates of $ 955.47 million. During the same quarter in the prior year, the business earned $ 0.30 earnings per share. As a group, research analysts predict that Range Resources Co. will post 4.4 EPS for the current fiscal year.
Range Resources announced that its board has approved a stock buyback plan on Tuesday, February 22nd that permits the company to repurchase $ 500.00 million in shares. This repurchase authorization permits the oil and gas exploration company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company board believes its stock is undervalued.
RRC has been the subject of several research analyst reports. TheStreet downgraded shares of Range Resources from a “b-” rating to a “c” rating in a report on Friday, May 6th. StockNews.com initiated coverage on shares of Range Resources in a report on Thursday, March 31st. They set a “hold” rating for the company. TD Securities lowered their price target on shares of Range Resources from $ 31.00 to $ 30.00 and set a “hold” rating for the company in a report on Wednesday, April 27th. Morgan Stanley upped their price target on shares of Range Resources from $ 25.00 to $ 32.00 and gave the stock an “underweight” rating in a report on Friday, April 22nd. Finally, Susquehanna upped their price target on shares of Range Resources from $ 24.00 to $ 34.00 in a report on Monday, April 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $ 30.61.
In related news, SVP Dori Ginn sold 10,000 shares of the company stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $ 32.60, for a total value of $ 326,000.00. Following the sale, the senior vice president now owns 75,098 shares in the company, valued at approximately $ 2,448,194.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Scucchi sold 55,000 shares of the company stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 32.67, for a total transaction of $ 1,796,850.00. Following the completion of the sale, the chief financial officer now owns 446,341 shares in the company, valued at approximately $ 14,581,960.47. The disclosure for this sale can be found here. Insiders have sold 172,500 shares of company stock worth $ 5,669,875 in the last quarter. Company insiders own 1.10% of the company stock.
Range Resources Profile: (Get Rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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