Mobius Capital Management LLC Takes Position in Range Resources Corp. (RRC)

Mobius Capital Management LLC acquired a new position in shares of Range Resources Corp. (NYSE:RRC) during the third quarter, Holdings Channel reports. The fund acquired 83,251 shares of the oil and gas exploration company’s stock, valued at approximately $1,414,000. Range Resources comprises about 1.0% of Mobius Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. St. Johns Investment Management Company LLC purchased a new position in Range Resources during the 2nd quarter worth $100,000. Palo Capital Inc. purchased a new position in Range Resources during the 3rd quarter worth $198,000. Nisa Investment Advisors LLC boosted its holdings in Range Resources by 47.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock worth $199,000 after acquiring an additional 3,750 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Range Resources during the 2nd quarter worth $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Range Resources during the 2nd quarter worth $212,000.

A number of research firms have issued reports on RRC. Royal Bank of Canada set a $21.00 price objective on shares of Range Resources and gave the stock a “buy” rating in a report on Thursday, September 20th. B. Riley lifted their price objective on shares of Range Resources from $22.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, October 18th. TD Securities lifted their target price on Range Resources from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, October 17th. Macquarie set a $18.00 target price on Range Resources and gave the stock a “hold” rating in a research note on Wednesday, September 26th. Finally, Morgan Stanley set a $18.00 target price on Range Resources and gave the stock a “sell” rating in a research note on Friday, October 12th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.55.



Shares of NYSE RRC traded up $0.09 during mid-day trading on Tuesday, reaching $15.37. 3,677,645 shares of the company’s stock were exchanged, compared to its average volume of 6,946,747. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.13 and a beta of 0.57. Range Resources Corp. has a 52 week low of $11.93 and a 52 week high of $19.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The business had revenue of $811.20 million for the quarter, compared to analysts’ expectations of $747.06 million. During the same period in the previous year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 68.2% compared to the same quarter last year. Research analysts expect that Range Resources Corp. will post 1.03 EPS for the current fiscal year.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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

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