Chevy Chase Trust Holdings Inc. Sells 1,057,665 Shares of Range Resources Corp. (NYSE:RRC)

Chevy Chase Trust Holdings Inc. reduced its position in shares of Range Resources Corp. (NYSE:RRC) by 76.1% in the third quarter, Holdings Channel reports. The fund owned 332,686 shares of the oil and gas exploration company’s stock after selling 1,057,665 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in Range Resources were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in shares of Range Resources by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 151,291 shares of the oil and gas exploration company’s stock valued at $1,056,000 after acquiring an additional 2,197 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Range Resources by 17.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 17,385 shares of the oil and gas exploration company’s stock valued at $121,000 after acquiring an additional 2,560 shares during the last quarter. Requisite Capital Management LLC boosted its position in shares of Range Resources by 1.1% during the 2nd quarter. Requisite Capital Management LLC now owns 299,591 shares of the oil and gas exploration company’s stock valued at $2,091,000 after acquiring an additional 3,277 shares during the last quarter. World Asset Management Inc boosted its position in shares of Range Resources by 23.2% during the 3rd quarter. World Asset Management Inc now owns 18,085 shares of the oil and gas exploration company’s stock valued at $69,000 after acquiring an additional 3,407 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Range Resources by 1.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 258,610 shares of the oil and gas exploration company’s stock valued at $1,805,000 after acquiring an additional 3,728 shares during the last quarter.

RRC stock opened at $3.36 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $3.97 and its two-hundred day simple moving average is $5.15. Range Resources Corp. has a twelve month low of $3.26 and a twelve month high of $15.08. The firm has a market cap of $877.48 million, a price-to-earnings ratio of 2.97, a PEG ratio of 3.52 and a beta of 0.99.

Range Resources (NYSE:RRC) last released its earnings results on Wednesday, October 23rd. The oil and gas exploration company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Range Resources had a positive return on equity of 3.14% and a negative net margin of 50.85%. The business had revenue of $622.45 million for the quarter, compared to analyst estimates of $594.94 million. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s revenue was down 23.3% compared to the same quarter last year. Research analysts expect that Range Resources Corp. will post 0.24 EPS for the current year.

Several analysts recently weighed in on the company. LADENBURG THALM/SH SH lowered Range Resources from a “buy” rating to a “neutral” rating and decreased their price target for the company from $11.00 to $5.00 in a report on Monday, August 26th. Bank of America decreased their price target on Range Resources from $8.00 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, October 24th. MKM Partners upgraded Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Monday, August 19th. TD Securities decreased their price target on Range Resources from $4.00 to $3.75 and set a “hold” rating on the stock in a report on Friday, October 25th. Finally, Credit Suisse Group lowered Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.61.

Range Resources 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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