Range Resources Co. (NYSE:RRC) Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Range Resources Co. (NYSE:RRC) by 0.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,003,299 shares of the oil and gas exploration company’s stock after purchasing an additional 35,344 shares during the quarter. Geode Capital Management LLC’s holdings in Range Resources were worth $123,174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of RRC. M&T Bank Corp grew its holdings in shares of Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 327 shares during the last quarter. Barclays PLC grew its stake in Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after buying an additional 142,938 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Range Resources in the third quarter worth $467,000. DF Dent & Co. Inc. lifted its stake in Range Resources by 72.7% in the third quarter. DF Dent & Co. Inc. now owns 133,185 shares of the oil and gas exploration company’s stock valued at $4,097,000 after buying an additional 56,050 shares during the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Range Resources during the third quarter valued at $1,624,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Susquehanna reduced their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada raised 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. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Finally, Morgan Stanley lowered their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling

In related news, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a legal 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 on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This 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.

Range Resources Stock Down 1.2 %

RRC stock opened at $34.15 on Wednesday. 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 firm has a market cap of $8.24 billion, a PE ratio of 17.25 and a beta of 1.85. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The firm has a 50 day simple moving average of $33.02 and a 200 day simple moving average of $32.34.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same period last year, the company posted $0.43 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Range Resources Co. will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company 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 is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Range Resources Company 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.