Range Resources Co. (NYSE:RRC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in shares of Range Resources Co. (NYSE:RRC) by 20.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,262 shares of the oil and gas exploration company’s stock after selling 33,054 shares during the period. BNP Paribas Financial Markets’ holdings in Range Resources were worth $4,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new stake in Range Resources during the third quarter worth about $26,000. Benjamin F. Edwards & Company Inc. boosted its stake in Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 666 shares during the period. Delos Wealth Advisors LLC purchased a new position in Range Resources during the fourth quarter worth about $52,000. Private Wealth Management Group LLC purchased a new position in Range Resources during the fourth quarter worth about $73,000. Finally, SYSTM Wealth Solutions LLC boosted its stake in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after buying an additional 325 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RRC. Morgan Stanley increased their target price on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Citigroup increased their target price on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Stephens raised their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Stifel Nicolaus raised their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Barclays assumed coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective for the company. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus price target of $37.15.

Insiders Place Their Bets

In other Range Resources news, CEO Dennis Degner sold 101,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the sale, the chief executive officer now owns 198,154 shares of the company’s stock, valued at $7,486,258.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Dennis Degner sold 101,000 shares of Range Resources stock in a transaction on Friday, May 17th. The shares were sold at an average price of $37.78, for a total value of $3,815,780.00. Following the transaction, the chief executive officer now directly owns 198,154 shares of the company’s stock, valued at approximately $7,486,258.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares in the company, valued at $844,467.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,107 shares of company stock valued at $7,379,095. 1.57% of the stock is owned by corporate insiders.

Range Resources Stock Up 2.1 %

Shares of Range Resources stock opened at $34.82 on Friday. Range Resources Co. has a 52-week low of $27.60 and a 52-week high of $39.33. The company has a 50 day moving average of $35.61 and a 200 day moving average of $33.41. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $8.45 billion, a P/E ratio of 17.68 and a beta of 1.87.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. As a group, research analysts forecast that Range Resources Co. will post 2.1 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Range Resources’s payout ratio is currently 16.24%.

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.