Range Resources Co. (NYSE:RRC) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in shares of Range Resources Co. (NYSE:RRC) by 40.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,119 shares of the oil and gas exploration company’s stock after buying an additional 43,753 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Range Resources worth $4,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position 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 buying an additional 705 shares during the period. Bogart Wealth LLC purchased a new position in Range Resources during the third quarter worth about $49,000. Fifth Third Bancorp lifted its position in 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 worth $57,000 after buying an additional 299 shares during the period. Perkins Coie Trust Co purchased a new position in Range Resources during the second quarter worth about $67,000. Finally, International Assets Investment Management LLC purchased a new position in Range Resources during the second quarter worth about $67,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a report on Tuesday, August 20th. Susquehanna cut their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Stephens raised their price objective on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred on Monday, September 23rd. The stock was 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 owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred on Monday, September 23rd. The stock was 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 owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $33.02 on Friday. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The business has a 50 day moving average price of $30.45 and a two-hundred day moving average price of $32.74. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $7.97 billion, a PE ratio of 16.68 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same quarter last year, the firm earned $0.43 EPS. Range Resources’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts expect that Range Resources Co. will post 1.87 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. Range Resources’s payout ratio is 16.16%.

Range Resources 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.