Viking Global Investors Lp buys $361,691,570 stake in Range Resources Corp. (RRC)

Range Resources Corp. (RRC) : Viking Global Investors Lp scooped up 471,306 additional shares in Range Resources Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 9,333,976 shares of Range Resources Corp. which is valued at $361,691,570.Range Resources Corp. makes up approximately 1.43% of Viking Global Investors Lp’s portfolio.

Other Hedge Funds, Including , Compagnie Lombard Odier Scma reduced its stake in RRC by selling 14,466 shares or 5.99% in the most recent quarter. The Hedge Fund company now holds 227,133 shares of RRC which is valued at $8,801,404. Range Resources Corp. makes up approx 0.25% of Compagnie Lombard Odier Scma’s portfolio. Mackenzie Financial Corp added RRC to its portfolio by purchasing 26,160 company shares during the most recent quarter which is valued at $1,013,700. Range Resources Corp. makes up approx 0.01% of Mackenzie Financial Corp’s portfolio. Mariner Wealth Advisors sold out all of its stake in RRC during the most recent quarter. The investment firm sold 10,800 shares of RRC which is valued $418,500.

Range Resources Corp. opened for trading at $38 and hit $39.29 on the upside on Thursday, eventually ending the session at $39.07, with a gain of 1.30% or 0.5 points. The heightened volatility saw the trading volume jump to 23,97,122 shares. Company has a market cap of $6,645 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.

Investors should note that on Sep 2, 2016, Range Resources Corp. announced a cash dividend of $0.0200. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Range Resources Corp.. Range Resources Corp. was Upgraded by KLR Group to ” Buy” on Jul 28, 2016. Company shares were Upgraded by Imperial Capital on Jul 14, 2016 to ” Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $45 .Stifel Upgraded Range Resources Corp. on Jul 8, 2016 to ” Buy”, Price Target of the shares are set at $52.

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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