Range Resources Co. (NYSE:RRC) Shares Sold by United Services Automobile Association

United Services Automobile Association cut its holdings in Range Resources Co. (NYSE:RRC) by 16.9% during the third quarter, HoldingsChannel reports. The fund owned 16,054 shares of the oil and gas exploration company’s stock after selling 3,270 shares during the period. United Services Automobile Association’s holdings in Range Resources were worth $494,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RRC. Brooklyn Investment Group purchased a new stake in Range Resources in the third quarter valued at $25,000. Blue Trust Inc. raised its holdings in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the period. Bogart Wealth LLC acquired a new position in Range Resources in the third quarter valued at about $49,000. Fifth Third Bancorp boosted its stake in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Range Resources during the second quarter valued at about $67,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Down 2.2 %

RRC opened at $33.75 on Monday. The business’s 50-day simple moving average is $32.57 and its 200-day simple moving average is $32.41. The company has a market cap of $8.14 billion, a P/E ratio of 17.05 and a beta of 1.85. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. 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 (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. The company had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. As a group, equities research analysts expect that Range Resources Co. will post 1.9 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RRC shares. JPMorgan Chase & Co. lowered their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Bank of America assumed coverage on Range Resources in a research note on Monday, October 28th. They issued a “neutral” rating and a $34.00 price objective for the company. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Finally, Citigroup increased their price target on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.06.

Insider Buying and Selling at Range Resources

In related news, 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 value 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. This represents a 56.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles G. Griffie purchased 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 27.44 % 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 insiders.

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.