Range Resources Co. (NYSE:RRC) Shares Purchased by Fmr LLC

Fmr LLC grew its position in shares of Range Resources Co. (NYSE:RRC) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,478,207 shares of the oil and gas exploration company’s stock after purchasing an additional 52,421 shares during the period. Fmr LLC owned 11.39% of Range Resources worth $845,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RRC. Blue Trust Inc. boosted 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 acquiring an additional 705 shares during the last quarter. Bogart Wealth LLC purchased a new stake in shares of Range Resources in the third quarter valued at $49,000. Fifth Third Bancorp increased its stake in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares during the last quarter. 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 acquired a new stake in Range Resources in the 2nd quarter worth about $67,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RRC shares. Mizuho dropped their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Stephens increased their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Susquehanna lowered their price objective on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 20th. Finally, Morgan Stanley lowered their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus target price of $35.00.

Range Resources Stock Performance

Shares of RRC stock opened at $35.59 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company’s fifty day moving average price is $31.87 and its two-hundred day moving average price is $32.53. The firm has a market capitalization of $8.59 billion, a P/E ratio of 17.97 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.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Insider Transactions at Range Resources

In related news, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ashley Kavanaugh sold 12,700 shares of the business’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 directly owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% 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.