Range Resources Co. (NYSE:RRC) Position Increased by Fmr LLC

Fmr LLC lifted its holdings in Range Resources Co. (NYSE:RRC) by 0.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 27,478,207 shares of the oil and gas exploration company’s stock after buying an additional 52,421 shares during the quarter. Fmr LLC owned approximately 0.11% of Range Resources worth $845,230,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its stake in Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the period. Bogart Wealth LLC bought a new position in shares of Range Resources during the third quarter valued at approximately $49,000. Fifth Third Bancorp raised its position in shares of Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co bought a new stake in shares of Range Resources in the 2nd quarter worth approximately $67,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the 2nd quarter valued at approximately $67,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RRC has been the topic of several analyst reports. Royal Bank of Canada increased their target price on Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Stephens boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Finally, Mizuho reduced their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Trading Down 1.9 %

Shares of RRC stock opened at $35.59 on Thursday. The stock has a 50-day simple moving average of $31.87 and a 200 day simple moving average of $32.53. The stock has a market capitalization of $8.59 billion, a P/E ratio of 17.97 and a beta of 1.80. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, sell-side analysts expect that Range Resources Co. will post 1.88 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Insider Transactions at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

About Range Resources

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.