State of New Jersey Common Pension Fund D Increases Stake in Range Resources Corporation (NYSE:RRC)

State of New Jersey Common Pension Fund D raised its position in Range Resources Corporation (NYSE:RRC) by 45.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,275,000 shares of the oil and gas exploration company’s stock after buying an additional 400,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.52% of Range Resources Corporation worth $29,542,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RRC. Vanguard Group Inc. raised its stake in Range Resources Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 22,226,210 shares of the oil and gas exploration company’s stock worth $646,783,000 after buying an additional 687,967 shares during the last quarter. Sanders Capital LLC raised its stake in Range Resources Corporation by 6.7% in the second quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock worth $379,186,000 after buying an additional 932,706 shares during the last quarter. BlackRock Inc. raised its stake in Range Resources Corporation by 2,153.9% in the first quarter. BlackRock Inc. now owns 13,133,750 shares of the oil and gas exploration company’s stock worth $382,193,000 after buying an additional 12,551,039 shares during the last quarter. State Street Corp raised its stake in Range Resources Corporation by 2.4% in the first quarter. State Street Corp now owns 12,051,572 shares of the oil and gas exploration company’s stock worth $350,697,000 after buying an additional 284,490 shares during the last quarter. Finally, Stelliam Investment Management LP raised its stake in Range Resources Corporation by 21.9% in the first quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock worth $166,525,000 after buying an additional 1,027,500 shares during the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

Range Resources Corporation (RRC) opened at 17.88 on Friday. The stock has a market capitalization of $4.36 billion, a P/E ratio of 120.81 and a beta of 0.92. The stock has a 50 day moving average of $22.18 and a 200 day moving average of $26.71. Range Resources Corporation has a 1-year low of $17.48 and a 1-year high of $43.60.

Range Resources Corporation (NYSE:RRC) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The business had revenue of $565 million for the quarter, compared to analyst estimates of $544.08 million. During the same period in the previous year, the firm earned ($1.35) EPS. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. On average, analysts expect that Range Resources Corporation will post $0.59 earnings per share for the current year.

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A number of analysts have recently weighed in on RRC shares. BidaskClub upgraded shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada set a $44.00 price objective on shares of Range Resources Corporation and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Evercore ISI upgraded shares of Range Resources Corporation to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, April 19th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $49.00 price objective on shares of Range Resources Corporation in a research note on Thursday, April 27th. Finally, Wells Fargo & Company upgraded shares of Range Resources Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources Corporation currently has an average rating of “Buy” and a consensus target price of $42.14.

In related news, COO Ray N. Walker, Jr. sold 7,200 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.17, for a total value of $166,824.00. Following the sale, the chief operating officer now directly owns 63,861 shares in the company, valued at approximately $1,479,659.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chad L. Stephens sold 28,744 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $23.05, for a total transaction of $662,549.20. Following the completion of the sale, the insider now owns 106,692 shares in the company, valued at $2,459,250.60. The disclosure for this sale can be found here. Insiders sold a total of 36,521 shares of company stock worth $842,742 over the last quarter. Insiders own 2.40% of the company’s stock.

Range Resources Corporation Company 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.

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

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