Knott David M buys $12 Million stake in Range Resources Corp. (RRC)

Range Resources Corp. (RRC) : Knott David M scooped up 50,000 additional shares in Range Resources Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 285,000 shares of Range Resources Corp. which is valued at $12 Million.Range Resources Corp. makes up approximately 2.87% of Knott David M’s portfolio.

Other Hedge Funds, Including , Scotia Capital boosted its stake in RRC in the latest quarter, The investment management firm added 1,099 additional shares and now holds a total of 20,473 shares of Range Resources Corp. which is valued at $860,071. Range Resources Corp. makes up approx 0.02% of Scotia Capital’s portfolio. Snow Capital Management Lp added RRC to its portfolio by purchasing 55,530 company shares during the most recent quarter which is valued at $2.3 Million. Range Resources Corp. makes up approx 0.10% of Snow Capital Management Lp’s portfolio.Massmutual Trust Co Fsbadv reduced its stake in RRC by selling 480 shares or 10.29% in the most recent quarter. The Hedge Fund company now holds 4,185 shares of RRC which is valued at $175,812. Range Resources Corp. makes up approx 0.02% of Massmutual Trust Co Fsbadv’s portfolio.

Range Resources Corp. opened for trading at $40.3 and hit $40.565 on the upside on Friday, eventually ending the session at $40.38, with a gain of 1.08% or 0.43 points. The heightened volatility saw the trading volume jump to 39,49,320 shares. Company has a market cap of $6,854 M.

On the company’s financial health, Range Resources Corp. reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.19. The company had revenue of $331.40 million for the quarter, compared to analysts expectations of $319.11 million. The company’s revenue was down -28.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.16 EPS.

Many Wall Street Analysts have commented on Range Resources Corp.. Company shares were Reiterated by Nomura on May 20, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $29 .Range Resources Corp. was Upgraded by Raymond James to ” Outperform” on May 17, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Underweight”, Firm has raised the Price Target to $ 30 from a previous price target of $24 .

Range Resources Corporation (Range) is an independent natural gas natural gas liquids (NGLs) and oil company. The Company is engaged in the engaged in the exploration development and acquisition of natural gas and oil properties mostly in the Appalachian and Midcontinent regions of the United States. The Company’s properties consist of interests in developed and undeveloped natural gas and oil leases in these regions. These interests are mostly in the form of working interests and to a lesser extent royalty and overriding royalty interests. The Company’s activities in the Midcontinent region include drilling production and field operations in the Texas Panhandle as well as in the Anadarko Basin of western Oklahoma the Nemaha Uplift of northern Oklahoma and Kansas the Permian Basin of West Texas and Mississippi.

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