BNP Paribas Financial Markets Increases Holdings in Range Resources Co. (NYSE:RRC)

BNP Paribas Financial Markets grew its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 329.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,618 shares of the oil and gas exploration company's stock after buying an additional 44,209 shares during the quarter. BNP Paribas Financial Markets' holdings in Range Resources were worth $1,772,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RRC. William Blair Investment Management LLC bought a new position in Range Resources during the second quarter valued at approximately $78,223,000. Canoe Financial LP increased its holdings in shares of Range Resources by 114.9% in the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company's stock worth $81,299,000 after buying an additional 1,422,200 shares during the period. Sagefield Capital LP lifted its stake in shares of Range Resources by 44.8% in the 2nd 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. Vaughan Nelson Investment Management L.P. boosted its holdings in Range Resources by 26.2% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company's stock valued at $39,777,000 after acquiring an additional 246,172 shares during the period. Finally, Lloyd Harbor Capital Management LLC bought a new position in Range Resources during the 2nd quarter worth approximately $6,706,000. 98.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RRC. Scotiabank raised Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 price objective for the company in a research note on Tuesday, August 20th. Wells Fargo & Company cut their price target on shares of Range Resources from $39.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. 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 decreased their price objective on shares of Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Finally, StockNews.com raised shares of Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.06.

Insider Transactions at Range Resources

In related news, 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 value of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now owns 5,921 shares of the company's stock, valued at approximately $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 company insiders.

Range Resources Stock Performance

Range Resources stock traded down $0.75 during midday trading on Friday, reaching $33.75. 2,005,348 shares of the company traded hands, compared to its average volume of 1,916,271. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. 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 business has a 50 day moving average of $32.57 and a two-hundred day moving average of $32.44. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 17.05 and a beta of 1.85.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company's revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. As a group, research analysts predict that Range Resources Co. will post 1.9 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.95%. Range Resources's payout ratio 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.