Builder Investment Group Inc. ADV Trims Stock Position in Range Resources Co. (NYSE:RRC)

Builder Investment Group Inc. ADV reduced its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 49.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,460 shares of the oil and gas exploration company's stock after selling 40,600 shares during the quarter. Builder Investment Group Inc. ADV's holdings in Range Resources were worth $1,492,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Canoe Financial LP raised its position in Range Resources by 114.9% during the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company's stock valued at $81,299,000 after purchasing an additional 1,422,200 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after buying an additional 604,199 shares during the period. HITE Hedge Asset Management LLC bought a new stake in shares of Range Resources in the third quarter valued at about $11,508,000. Verition Fund Management LLC lifted its stake in Range Resources by 379.3% in the third quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company's stock worth $12,594,000 after acquiring an additional 324,011 shares during the period. Finally, Sagefield Capital LP grew its holdings in Range Resources by 44.8% during the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company's stock worth $30,408,000 after acquiring an additional 280,452 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

RRC has been the subject of several recent research reports. StockNews.com upgraded shares of Range Resources to a "sell" rating in a report on Wednesday, November 27th. Mizuho boosted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Wells Fargo & Company increased their target price on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Stephens boosted their price target on Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Benchmark restated a "hold" rating on shares of Range Resources in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and a consensus price target of $37.16.

Insider Activity at Range Resources

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value 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 represents a 27.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by insiders.

Range Resources Stock Performance

Range Resources stock traded up $0.97 during mid-day trading on Thursday, reaching $41.30. 2,392,861 shares of the company traded hands, compared to its average volume of 2,931,576. The firm's fifty day moving average is $35.28 and its two-hundred day moving average is $32.48. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 20.86 and a beta of 1.81. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm's revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. On average, equities research analysts expect that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources's dividend payout ratio (DPR) is 16.16%.

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.