Hara Capital LLC Acquires Shares of 3,000 Range Resources Co. (NYSE:RRC)

Hara Capital LLC acquired a new position in Range Resources Co. (NYSE:RRC) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,000 shares of the oil and gas exploration company’s stock, valued at approximately $92,000.

Several other hedge funds have also modified their holdings of the company. Foster & Motley Inc. raised its holdings in Range Resources by 18.8% in the 3rd quarter. Foster & Motley Inc. now owns 23,205 shares of the oil and gas exploration company’s stock worth $714,000 after purchasing an additional 3,665 shares during the period. Mariner Investment Group LLC purchased a new stake in shares of Range Resources in the third quarter valued at approximately $1,077,000. Van ECK Associates Corp raised its stake in shares of Range Resources by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 153,119 shares of the oil and gas exploration company’s stock worth $4,739,000 after buying an additional 43,753 shares during the period. Confluence Wealth Services Inc. lifted its position in shares of Range Resources by 33.7% during the 3rd quarter. Confluence Wealth Services Inc. now owns 16,088 shares of the oil and gas exploration company’s stock valued at $495,000 after buying an additional 4,052 shares in the last quarter. Finally, Lmcg Investments LLC lifted its position in shares of Range Resources by 0.7% during the 3rd quarter. Lmcg Investments LLC now owns 152,598 shares of the oil and gas exploration company’s stock valued at $4,694,000 after buying an additional 1,131 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at $186,274.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

RRC has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research report on Tuesday, August 20th. Stephens lifted their price objective on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Bank of America initiated coverage on Range Resources in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 price objective for the company. Finally, Benchmark restated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.00.

Range Resources Price Performance

Range Resources stock opened at $32.75 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $30.39 and a 200 day moving average price of $32.76. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The stock has a market cap of $7.90 billion, a P/E ratio of 16.54 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter last year, the firm earned $0.43 EPS. The business’s revenue was up .9% compared to the same quarter last year. Sell-side analysts anticipate that Range Resources Co. will post 1.87 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. Range Resources’s dividend payout ratio is currently 16.16%.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.