Quantinno Capital Management LP Takes $234,000 Position in Range Resources Co. (NYSE:RRC)

Quantinno Capital Management LP purchased a new position in shares of Range Resources Co. (NYSE:RRC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,599 shares of the oil and gas exploration company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares in the last quarter. CIBC Asset Management Inc grew its stake in Range Resources by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after purchasing an additional 350 shares in the last quarter. Commerce Bank increased its holdings in Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares during the last quarter. Inscription Capital LLC raised its position in shares of Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares in the last quarter. Finally, Orser Capital Management LLC boosted its stake in shares of Range Resources by 1.0% during the 3rd quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock valued at $1,661,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of RRC opened at $34.58 on Tuesday. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 17.46 and a beta of 1.85. The stock’s fifty day moving average is $32.97 and its 200-day moving average is $32.36. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last issued its quarterly 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same period in the prior year, the business posted $0.43 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Range Resources Co. will post 1.91 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources’s dividend payout ratio is presently 16.16%.

Insider Activity

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRC. StockNews.com raised shares of Range Resources to a “sell” rating in a report on Wednesday, November 27th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.89.

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.