Natixis Advisors LLC Has $4 Million Position in Range Resources Co. (NYSE:RRC)

Natixis Advisors LLC lessened its holdings in Range Resources Co. (NYSE:RRC) by 8.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,879 shares of the oil and gas exploration company’s stock after selling 12,027 shares during the period. Natixis Advisors LLC’s holdings in Range Resources were worth $3,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RRC. Seelaus Asset Management LLC purchased a new stake in Range Resources in the 3rd quarter worth about $280,000. OneDigital Investment Advisors LLC lifted its position in shares of Range Resources by 11.2% in the third quarter. OneDigital Investment Advisors LLC now owns 54,718 shares of the oil and gas exploration company’s stock worth $1,683,000 after purchasing an additional 5,517 shares in the last quarter. Curi RMB Capital LLC lifted its position in shares of Range Resources by 16.1% in the third quarter. Curi RMB Capital LLC now owns 462,017 shares of the oil and gas exploration company’s stock worth $14,212,000 after purchasing an additional 63,899 shares in the last quarter. KBC Group NV boosted its holdings in shares of Range Resources by 11.5% during the third quarter. KBC Group NV now owns 6,696 shares of the oil and gas exploration company’s stock worth $206,000 after purchasing an additional 688 shares during the period. Finally, Victory Capital Management Inc. grew its position in Range Resources by 32.5% during the third quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock valued at $2,025,000 after purchasing an additional 16,134 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

NYSE RRC opened at $35.72 on Friday. The stock has a market capitalization of $8.62 billion, a PE ratio of 18.04 and a beta of 1.80. The stock has a 50-day simple moving average of $31.61 and a 200 day simple moving average of $32.56. 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 Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Research analysts anticipate that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

RRC has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Stephens boosted their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their price objective for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Mizuho decreased their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Range Resources to a “sell” rating in a report on Tuesday, November 12th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $34.94.

Insiders Place Their Bets

In related 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 acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This trade 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.