Stifel Financial Corp Has $2.21 Million Stock Holdings in Range Resources Co. (NYSE:RRC)

Stifel Financial Corp decreased its stake in Range Resources Co. (NYSE:RRC) by 5.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,985 shares of the oil and gas exploration company’s stock after selling 4,195 shares during the quarter. Stifel Financial Corp’s holdings in Range Resources were worth $2,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RRC. Quantinno Capital Management LP acquired a new position in Range Resources in the 3rd quarter worth approximately $234,000. Royal London Asset Management Ltd. boosted its position in shares of Range Resources by 1.6% in the third quarter. Royal London Asset Management Ltd. now owns 671,954 shares of the oil and gas exploration company’s stock worth $20,669,000 after buying an additional 10,385 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of Range Resources during the third quarter valued at $11,508,000. HighTower Advisors LLC grew its holdings in shares of Range Resources by 59.9% during the third quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock valued at $4,045,000 after buying an additional 49,276 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in Range Resources by 379.3% during the third quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock valued at $12,594,000 after buying an additional 324,011 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Bank of America assumed coverage on shares of Range Resources in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 target price for the company. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus target price of $36.00.

Range Resources Price Performance

Shares of Range Resources stock opened at $33.14 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 firm has a fifty day simple moving average of $33.10 and a 200-day simple moving average of $32.35. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 16.74 and a beta of 1.85. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The company 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 business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. On average, sell-side analysts expect that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Insiders Place Their Bets

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 the business’s stock in a transaction dated 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 owns 9,670 shares in the company, valued at $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

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.