15,924 Shares in Range Resources Co. (NYSE:RRC) Purchased by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in Range Resources Co. (NYSE:RRC - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 15,924 shares of the oil and gas exploration company's stock, valued at approximately $490,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantinno Capital Management LP bought a new stake in Range Resources during the third quarter worth $234,000. Royal London Asset Management Ltd. raised its stake in Range Resources by 1.6% during the third quarter. Royal London Asset Management Ltd. now owns 671,954 shares of the oil and gas exploration company's stock worth $20,669,000 after acquiring an additional 10,385 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in shares of Range Resources during the 3rd quarter valued at approximately $11,508,000. HighTower Advisors LLC increased its position in Range Resources by 59.9% during the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company's stock worth $4,045,000 after purchasing an additional 49,276 shares in the last quarter. Finally, Verition Fund Management LLC increased its position in Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company's stock worth $12,594,000 after purchasing an additional 324,011 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Down 0.4 %

Shares of Range Resources stock traded down $0.15 on Tuesday, reaching $33.98. 1,820,756 shares of the company's stock were exchanged, compared to its average volume of 2,335,490. The firm's 50-day moving average is $32.64 and its two-hundred day moving average is $32.40. The company has a market capitalization of $8.20 billion, a P/E ratio of 17.25 and a beta of 1.85. 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 Co. has a 52 week low of $27.29 and a 52 week high of $39.33.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 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 business had revenue of $615.03 million during the quarter, compared to analysts' expectations of $617.90 million. During the same period last year, the company posted $0.43 earnings per share. The business's quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Range Resources Co. will post 1.9 EPS 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. Shareholders of record on Friday, December 13th will be issued a $0.08 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.94%. Range Resources's payout ratio is currently 16.16%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business's stock in a transaction that occurred on 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 approximately $304,121.50. The trade was a 56.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the company's stock in a transaction dated 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 acquisition, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of research reports. Bank of America assumed coverage on shares of Range Resources in a research note on Monday, October 28th. They set a "neutral" rating and a $34.00 target price on the stock. The Goldman Sachs Group lowered their target price on Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Susquehanna cut their price target on Range Resources from $36.00 to $31.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. StockNews.com raised Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on shares of Range Resources from $33.00 to $31.00 and set an "underweight" rating on the stock in a research report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.50.

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.