DRW Securities LLC Sells 15,885 Shares of Range Resources Co. (NYSE:RRC)

DRW Securities LLC trimmed its stake in Range Resources Co. (NYSE:RRC - Free Report) by 31.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 35,000 shares of the oil and gas exploration company's stock after selling 15,885 shares during the quarter. DRW Securities LLC's holdings in Range Resources were worth $1,077,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Range Resources by 2.1% in the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company's stock worth $224,912,000 after acquiring an additional 133,565 shares during the period. Lingotto Investment Management LLP boosted its stake in Range Resources by 1.5% during the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company's stock valued at $216,326,000 after purchasing an additional 93,782 shares in the last quarter. KGH Ltd raised its stake in shares of Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company's stock worth $203,862,000 after buying an additional 190,000 shares in the last quarter. Canoe Financial LP lifted 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 valued at $81,299,000 after buying an additional 1,422,200 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Range Resources during the second quarter valued at about $78,223,000. 98.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RRC. The Goldman Sachs Group reduced their price objective on shares of Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. UBS Group reduced their price objective on Range Resources from $30.00 to $27.00 and set a "sell" rating for the company in a research note on Wednesday, September 18th. Scotiabank raised Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 target price on the stock in a research report on Tuesday, August 20th. Wells Fargo & Company dropped their price target on Range Resources from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Finally, Benchmark reaffirmed a "hold" rating on shares of Range Resources in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus price target of $35.00.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares of the company's stock, valued at $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles G. Griffie purchased 1,275 shares of the stock in a transaction on Thursday, October 24th. The stock was acquired 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 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. Corporate insiders own 1.57% of the company's stock.

Range Resources Stock Performance

RRC traded up $0.45 during trading on Tuesday, hitting $36.28. The stock had a trading volume of 1,903,004 shares, compared to its average volume of 2,357,769. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a 50 day simple moving average of $31.74 and a 200-day simple moving average of $32.53. The firm has a market cap of $8.75 billion, a PE ratio of 18.32 and a beta of 1.80.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $615.03 million for the quarter, compared to analyst estimates 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 for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Analysts expect that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources's dividend payout ratio (DPR) is currently 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.