Commerce Bank Acquires 369 Shares of Range Resources Co. (NYSE:RRC)

Commerce Bank raised its holdings in shares of Range Resources Co. (NYSE:RRC) by 5.7% during the third quarter, HoldingsChannel reports. The fund owned 6,848 shares of the oil and gas exploration company’s stock after purchasing an additional 369 shares during the quarter. Commerce Bank’s holdings in Range Resources were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Range Resources by 62.6% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 298,988 shares of the oil and gas exploration company’s stock valued at $9,197,000 after acquiring an additional 115,142 shares during the period. Pathstone Holdings LLC grew its position in shares of Range Resources by 3.7% during the 3rd quarter. Pathstone Holdings LLC now owns 89,683 shares of the oil and gas exploration company’s stock valued at $2,759,000 after purchasing an additional 3,238 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Range Resources by 0.9% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock valued at $36,820,000 after purchasing an additional 10,690 shares in the last quarter. Seelaus Asset Management LLC purchased a new position in shares of Range Resources during the 3rd quarter valued at $280,000. Finally, OneDigital Investment Advisors LLC grew its position in shares of Range Resources by 11.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 54,718 shares of the oil and gas exploration company’s stock valued at $1,683,000 after purchasing an additional 5,517 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were 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 owns 5,921 shares in the company, valued at $186,274.66. This trade 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 can be accessed through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $35.59 on Thursday. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 17.97 and a beta of 1.80. The company has a 50-day moving average price of $31.87 and a 200-day moving average price of $32.53. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month 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, 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 during the quarter, compared to the consensus estimate of $617.90 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Range Resources’s revenue was up .9% on a year-over-year basis. As a group, equities 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. Investors of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, September 13th. Range Resources’s payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday. Susquehanna cut their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. The Goldman Sachs Group cut their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Mizuho cut 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 research report on Wednesday. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $35.00.

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.