Todays Report: Today, Creative Planning Increases Stake in Range Resources Corp. (RRC)

Today, Creative Planning Increases Stake in Range Resources Corp. (RRC)

Creative Planning raised its stake in Range Resources Corp. (NYSE:RRC) by 3,036.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,039 shares of the oil and gas exploration company’s stock after buying an additional 33,922 shares during the period. Creative Planning’s holdings in Range Resources Corp. were worth $1,358,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in Range Resources Corp. by 449.6% in the second quarter. FMR LLC now owns 4,634,388 shares of the oil and gas exploration company’s stock valued at $199,928,000 after buying an additional 3,791,208 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Range Resources Corp. by 1.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,410,311 shares of the oil and gas exploration company’s stock valued at $190,261,000 after buying an additional 44,179 shares during the last quarter. BlackRock Fund Advisors increased its stake in Range Resources Corp. by 3.0% in the second quarter. BlackRock Fund Advisors now owns 3,053,906 shares of the oil and gas exploration company’s stock valued at $131,746,000 after buying an additional 87,524 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Range Resources Corp. during the second quarter valued at approximately $116,394,000. Finally, Blue Ridge Capital L.L.C. acquired a new stake in Range Resources Corp. during the second quarter valued at approximately $106,556,000. Institutional investors own 85.65% of the company’s stock.

Shares of Range Resources Corp. (NYSE:RRC) traded up 0.63% during trading on Monday, reaching $36.51. The company’s stock had a trading volume of 4,513,842 shares. The stock has a 50 day moving average of $35.38 and a 200-day moving average of $39.73. Range Resources Corp. has a 1-year low of $19.21 and a 1-year high of $46.96. The company’s market capitalization is $8.90 billion.

Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 25th. The oil and gas exploration company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.10. Range Resources Corp. had a negative return on equity of 13.00% and a negative net margin of 54.13%. The company had revenue of $413 million for the quarter, compared to analyst estimates of $152.84 million. During the same period last year, the company earned $0.03 earnings per share. Range Resources Corp.’s quarterly revenue was down 13.9% compared to the same quarter last year. On average, analysts expect that Range Resources Corp. will post ($0.19) earnings per share for the current year.

A number of research firms have issued reports on RRC. BMO Capital Markets upgraded Range Resources Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Thursday, November 17th. Zacks Investment Research downgraded Range Resources Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Barclays PLC began coverage on Range Resources Corp. in a research note on Wednesday, September 28th. They set an “underweight” rating and a $34.00 price target for the company. Jefferies Group set a $50.00 price target on Range Resources Corp. and gave the company a “buy” rating in a research note on Friday, September 9th. Finally, GMP Securities began coverage on Range Resources Corp. in a research note on Wednesday, September 28th. They set a “buy” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $44.38.

In other news, Director Gregory Gene Maxwell bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were acquired at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now directly owns 12,211 shares in the company, valued at approximately $451,807. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $37.53, for a total value of $501,025.50. Following the completion of the transaction, the chief operating officer now owns 42,598 shares in the company, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

About Range Resources Corp.

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.

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