Weitz Investment Management Lowers stake in Range Resources Corp. (RRC)

Range Resources Corp. (RRC) : Weitz Investment Management reduced its stake in Range Resources Corp. by 56.18% during the most recent quarter end. The investment management company now holds a total of 1,046,166 shares of Range Resources Corp. which is valued at $40,538,933 after selling 1,341,078 shares in Range Resources Corp. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Range Resources Corp. makes up approximately 1.45% of Weitz Investment Management’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc reduced its stake in RRC by selling 60,229 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 15,245,565 shares of RRC which is valued at $590,765,644. Range Resources Corp. makes up approx 0.04% of Vanguard Group Inc’s portfolio. Tlp Group added RRC to its portfolio by purchasing 874 company shares during the most recent quarter which is valued at $35,563. Range Resources Corp. makes up approx 0.02% of Tlp Group’s portfolio. Denver Investment Advisors sold out all of its stake in RRC during the most recent quarter. The investment firm sold 27,752 shares of RRC which is valued $1,068,730. Bank Of The West added RRC to its portfolio by purchasing 6,100 company shares during the most recent quarter which is valued at $244,061. Range Resources Corp. makes up approx 0.03% of Bank Of The West’s portfolio.New York State Teachers Retirement System boosted its stake in RRC in the latest quarter, The investment management firm added 12,715 additional shares and now holds a total of 322,280 shares of Range Resources Corp. which is valued at $13,255,376. Range Resources Corp. makes up approx 0.03% of New York State Teachers Retirement System’s portfolio.

Range Resources Corp. closed down -0.39 points or -0.96% at $40.4 with 30,36,465 shares getting traded on Friday. Post opening the session at $40.53, the shares hit an intraday low of $39.62 and an intraday high of $40.85 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.. 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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