Farther Finance Advisors LLC Has $60,000 Stake in Range Resources Co. (NYSE:RRC)

Farther Finance Advisors LLC decreased its position in shares of Range Resources Co. (NYSE:RRC) by 74.0% in the third quarter, Holdings Channel reports. The fund owned 1,948 shares of the oil and gas exploration company’s stock after selling 5,543 shares during the period. Farther Finance Advisors LLC’s holdings in Range Resources were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of RRC. Fifth Third Bancorp increased its holdings in shares of Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the period. CIBC Asset Management Inc increased its holdings in shares of 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 worth $228,000 after purchasing an additional 350 shares during the period. Inscription Capital LLC increased its holdings in shares of Range Resources by 3.6% during the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after purchasing an additional 433 shares during the period. Orser Capital Management LLC increased its holdings 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 worth $1,661,000 after purchasing an additional 550 shares during the period. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Range Resources by 6.0% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity at Range Resources

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired 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 directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles G. Griffie acquired 1,275 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by company insiders.

Range Resources Price Performance

NYSE:RRC opened at $33.90 on Thursday. The firm has a market cap of $8.18 billion, a PE ratio of 17.12 and a beta of 1.80. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. 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 company’s 50-day moving average price is $30.76 and its two-hundred day moving average price is $32.64.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $617.90 million. During the same period in the prior year, the business earned $0.43 earnings per share. Range Resources’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that Range Resources Co. will post 1.87 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.94%. Range Resources’s dividend payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RRC shares. Wells Fargo & Company dropped their price objective on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Stephens boosted their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a report on Thursday, September 12th. Wolfe Research began coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Mizuho lowered their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

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.