U S Global Investors Inc. Sells 3,000 Shares of Range Resources Co. (NYSE:RRC)

U S Global Investors Inc. cut its holdings in shares of Range Resources Co. (NYSE:RRC) by 30.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,000 shares of the oil and gas exploration company’s stock after selling 3,000 shares during the period. U S Global Investors Inc.’s holdings in Range Resources were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RRC. Price T Rowe Associates Inc. MD boosted its stake in shares of Range Resources by 25.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after purchasing an additional 5,759,883 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Range Resources during the second quarter valued at approximately $78,223,000. Vanguard Group Inc. boosted its stake in shares of Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares in the last quarter. Herr Investment Group LLC boosted its stake in shares of Range Resources by 4,594.4% during the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after purchasing an additional 487,011 shares in the last quarter. Finally, Sagefield Capital LP lifted its position in Range Resources by 44.8% during the second quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock valued at $30,408,000 after acquiring an additional 280,452 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RRC. Stephens increased their target price on shares of Range Resources from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. UBS Group decreased their price target on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. 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. The Goldman Sachs Group cut their target price on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Jefferies Financial Group lifted their price target on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.06.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is owned by insiders.

Range Resources Price Performance

Shares of NYSE:RRC traded up $0.24 during midday trading on Tuesday, hitting $30.19. The company’s stock had a trading volume of 100,680 shares, compared to its average volume of 2,333,040. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a market cap of $7.32 billion, a P/E ratio of 15.20 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The business’s 50 day simple moving average is $30.20 and its 200 day simple moving average is $33.16.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. Range Resources’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. On average, analysts forecast that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The business 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 1.06%. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

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.