Matthew 25 Management Corp raised its position in Range Resources Corporation (NYSE:RRC) by 166.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the oil and gas exploration company’s stock after buying an additional 50,000 shares during the period. Range Resources Corporation makes up about 0.5% of Matthew 25 Management Corp’s holdings, making the stock its 18th biggest holding. Matthew 25 Management Corp’s holdings in Range Resources Corporation were worth $1,854,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in Range Resources Corporation in the 1st quarter valued at about $440,000. Morgan Stanley boosted its position in Range Resources Corporation by 25.9% in the 1st quarter. Morgan Stanley now owns 1,724,403 shares of the oil and gas exploration company’s stock valued at $50,181,000 after buying an additional 354,922 shares during the last quarter. Prudential Financial Inc. boosted its position in Range Resources Corporation by 3.0% in the 1st quarter. Prudential Financial Inc. now owns 253,351 shares of the oil and gas exploration company’s stock valued at $7,373,000 after buying an additional 7,300 shares during the last quarter. Retirement Systems of Alabama boosted its position in Range Resources Corporation by 2.1% in the 1st quarter. Retirement Systems of Alabama now owns 90,931 shares of the oil and gas exploration company’s stock valued at $2,646,000 after buying an additional 1,904 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Range Resources Corporation by 7.5% in the 1st quarter. M&T Bank Corp now owns 27,112 shares of the oil and gas exploration company’s stock valued at $788,000 after buying an additional 1,889 shares during the last quarter. 95.34% of the stock is owned by institutional investors.

In other Range Resources Corporation news, Director Steffen E. Palko purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $16.81 per share, with a total value of $252,150.00. Following the completion of the purchase, the director now directly owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Ralph Lowe purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average cost of $17.99 per share, with a total value of $179,900.00. Following the completion of the purchase, the director now owns 25,413 shares of the company’s stock, valued at $457,179.87. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 30,000 shares of company stock valued at $541,640. 0.42% of the stock is currently owned by insiders.

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Shares of Range Resources Corporation (NYSE RRC) traded up 2.63% during mid-day trading on Tuesday, reaching $18.32. 894,047 shares of the company were exchanged. The firm has a 50-day moving average price of $19.05 and a 200 day moving average price of $24.22. Range Resources Corporation has a 12 month low of $16.50 and a 12 month high of $43.60. The stock has a market capitalization of $4.47 billion, a P/E ratio of 123.78 and a beta of 0.94.

Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.20. The business had revenue of $565 million during the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. Range Resources Corporation’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.35) earnings per share. Equities research analysts anticipate that Range Resources Corporation will post $0.51 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.45%. Range Resources Corporation’s dividend payout ratio (DPR) is 100.01%.

RRC has been the subject of a number of analyst reports. Citigroup Inc. decreased their price objective on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Zacks Investment Research raised shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Monday, July 17th. BMO Capital Markets set a $35.00 price objective on shares of Range Resources Corporation and gave the company a “buy” rating in a research report on Monday, June 26th. Scotiabank set a $35.00 price objective on shares of Range Resources Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Royal Bank Of Canada set a $44.00 price objective on shares of Range Resources Corporation and gave the company a “buy” rating in a research report on Saturday, June 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.69.

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.

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

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