Amalgamated Bank Sells 36,058 Shares of Range Resources Co. (NYSE:RRC)

Amalgamated Bank reduced its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 23.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,125 shares of the oil and gas exploration company's stock after selling 36,058 shares during the quarter. Amalgamated Bank's holdings in Range Resources were worth $3,541,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in Range Resources by 107.8% in 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 in the last quarter. Bogart Wealth LLC acquired a new position in shares of Range Resources during the third quarter worth approximately $49,000. Fifth Third Bancorp lifted its holdings in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company's stock worth $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in Range Resources in the 2nd quarter valued at $67,000. Finally, International Assets Investment Management LLC acquired a new stake in Range Resources in the 2nd quarter valued at $67,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

NYSE RRC traded up $0.28 during trading hours on Friday, reaching $33.03. 1,407,258 shares of the company were exchanged, compared to its average volume of 2,542,027. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $7.97 billion, a P/E ratio of 16.68 and a beta of 1.80. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The business's 50 day simple moving average is $30.45 and its 200-day simple moving average is $32.68.

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 company had revenue of $615.03 million for the quarter, compared to analysts' expectations of $617.90 million. During the same quarter in the previous year, the firm posted $0.43 EPS. Range Resources's revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Range Resources Co. will post 1.87 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. Range Resources's dividend payout ratio is presently 16.16%.

Insider Transactions at Range Resources

In other news, Director Charles G. Griffie acquired 1,275 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the acquisition, the director now owns 5,921 shares in the company, valued at $186,274.66. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Ashley Kavanaugh sold 12,700 shares of the business's stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RRC has been the topic of a number of recent research reports. Bank of America assumed coverage on shares of Range Resources in a research note on Monday, October 28th. They issued a "neutral" rating and a $34.00 price objective on the stock. Susquehanna dropped their price target on shares of Range Resources from $36.00 to $31.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group decreased their price objective on Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Benchmark reissued a "hold" rating on shares of Range Resources in a research note on Wednesday, October 23rd. Finally, Stephens lifted their target price on Range Resources from $36.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Range Resources has an average rating of "Hold" and an average target price of $35.00.

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.