Sanders Capital buys $592,344,960 stake in Range Resources Corp. (RRC)

Range Resources Corp. (RRC) : Sanders Capital scooped up 5,202,893 additional shares in Range Resources Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 19, 2016. The investment management firm now holds a total of 14,901,760 shares of Range Resources Corp. which is valued at $592,344,960.Range Resources Corp. makes up approximately 4.89% of Sanders Capital’s portfolio.

Range Resources Corp. opened for trading at $37.47 and hit $39.97 on the upside on Friday, eventually ending the session at $39.75, with a gain of 6.94% or 2.58 points. The heightened volatility saw the trading volume jump to 46,93,924 shares. Company has a market cap of $6,741 M.

Other Hedge Funds, Including , Quantres Asset Management Ltd reduced its stake in RRC by selling 9,400 shares or 30.52% in the most recent quarter. The Hedge Fund company now holds 21,400 shares of RRC which is valued at $850,650. Range Resources Corp. makes up approx 0.79% of Quantres Asset Management Ltd’s portfolio. Phoenix Investment Adviser sold out all of its stake in RRC during the most recent quarter. The investment firm sold 27,000 shares of RRC which is valued $1,004,400.Integral Derivatives reduced its stake in RRC by selling 45,488 shares or 84.56% in the most recent quarter. The Hedge Fund company now holds 8,305 shares of RRC which is valued at $308,946. Range Resources Corp. makes up approx 0.13% of Integral Derivatives’s portfolio.Dnb Asset Management As reduced its stake in RRC by selling 3,400 shares or 25.15% in the most recent quarter. The Hedge Fund company now holds 10,120 shares of RRC which is valued at $376,464. Range Resources Corp. makes up approx 0.01% of Dnb Asset Management As’s portfolio.British Columbia Investment Management Corp reduced its stake in RRC by selling 7,120 shares or 10.39% in the most recent quarter. The Hedge Fund company now holds 61,382 shares of RRC which is valued at $2,136,094. Range Resources Corp. makes up approx 0.02% of British Columbia Investment Management Corp’s portfolio.

On the company’s financial health, Range Resources Corp. reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.09. The company had revenue of $456.00 million for the quarter, compared to analysts expectations of $421.91 million. The company’s revenue was down -12.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Range Resources Corp.. Range Resources Corp. was Downgraded by Tudor Pickering to ” Hold” on Apr 15, 2016. Shares were Downgraded by Barclays on Mar 24, 2016 to ” Underweight” and Lowered the Price Target to $ 24 from a previous price target of $27 .Range Resources Corp. was Downgraded by Raymond James to ” Mkt Perform” on Mar 22, 2016.

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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