Range Resources Co. (NYSE:RRC) Stock Position Raised by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in Range Resources Co. (NYSE:RRC) by 62.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 298,988 shares of the oil and gas exploration company’s stock after buying an additional 115,142 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Range Resources were worth $9,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RRC. State Board of Administration of Florida Retirement System boosted its position in shares of Range Resources by 11.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after buying an additional 16,619 shares during the period. Vanguard Group Inc. boosted its position in shares of Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after buying an additional 959,011 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Range Resources in the first quarter worth $220,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Range Resources by 0.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 138,482 shares of the oil and gas exploration company’s stock worth $4,770,000 after buying an additional 1,183 shares during the period. Finally, Natixis acquired a new stake in shares of Range Resources in the first quarter worth $1,171,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 2.5 %

Range Resources stock opened at $34.27 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50-day simple moving average is $31.10 and its 200-day simple moving average is $32.58. The firm has a market capitalization of $8.27 billion, a PE ratio of 17.31 and a beta of 1.80. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Equities research analysts forecast that Range Resources Co. will post 1.89 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors 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 yield of 0.93%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Bank of America started coverage on Range Resources in a research report on Monday, October 28th. They set a “neutral” rating and a $34.00 price objective for the company. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 20th. UBS Group reduced their price objective on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 price objective on shares of Range Resources in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.94.

Insider Buying and Selling

In other news, 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 acquired at an average cost 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 $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources 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 directly owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents 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 company insiders.

Range Resources Company 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.