XTX Topco Ltd Makes New Investment in Range Resources Corporation (NYSE:RRC)

XTX Topco Ltd bought a new position in shares of Range Resources Corporation (NYSE:RRC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 55,263 shares of the oil and gas exploration company’s stock, valued at approximately $2,207,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RRC. Hollencrest Capital Management acquired a new stake in shares of Range Resources in the 1st quarter valued at about $33,000. Bessemer Group Inc. raised its stake in shares of Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Range Resources in the 1st quarter valued at about $39,000. Headlands Technologies LLC acquired a new stake in shares of Range Resources in the 4th quarter valued at about $42,000. Finally, Fifth Third Bancorp raised its stake in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after purchasing an additional 355 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the transaction, the director owned 13,663 shares of the company’s stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James M. Funk sold 13,582 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the transaction, the director directly owned 54,394 shares of the company’s stock, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,080 shares of company stock valued at $2,984,479. Corporate insiders own 1.00% of the company’s stock.

Range Resources Stock Up 0.5%

RRC opened at $36.67 on Thursday. Range Resources Corporation has a fifty-two week low of $27.29 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $8.73 billion, a P/E ratio of 18.43, a P/E/G ratio of 0.29 and a beta of 0.63. The stock has a fifty day moving average of $38.97 and a 200-day moving average of $38.00.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $856.28 million during the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.46 earnings per share. On average, equities analysts expect that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, June 13th. Range Resources’s payout ratio is 18.09%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RRC shares. Barclays lifted their price target on Range Resources from $39.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. Scotiabank set a $46.00 target price on Range Resources and gave the stock a “sector perform” rating in a report on Friday, July 11th. Wall Street Zen downgraded Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. UBS Group upped their price objective on Range Resources from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 target price on shares of Range Resources in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.37.

Range Resources Company 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.