Dynamic Technology Lab Private Ltd Increases Position in Range Resources Co. (NYSE:RRC)

Dynamic Technology Lab Private Ltd increased its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 164.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,655 shares of the oil and gas exploration company's stock after acquiring an additional 22,191 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Range Resources were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RRC. Fifth Third Bancorp grew its holdings in shares of Range Resources by 21.2% in the second 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 during the last quarter. CIBC Asset Management Inc grew its holdings in Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company's stock worth $228,000 after acquiring an additional 350 shares during the last quarter. Commerce Bank increased its position in shares of Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock valued at $211,000 after acquiring an additional 369 shares during the period. Inscription Capital LLC boosted its holdings in shares of Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company's stock worth $386,000 after purchasing an additional 433 shares during the period. Finally, Orser Capital Management LLC grew its stake in shares of Range Resources by 1.0% in the third quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company's stock worth $1,661,000 after purchasing an additional 550 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Down 1.9 %

RRC stock traded down $0.69 during trading on Wednesday, hitting $35.59. 1,952,244 shares of the stock traded hands, compared to its average volume of 2,355,615. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 18.10 and a beta of 1.80. 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 Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The firm's 50 day moving average is $31.87 and its two-hundred day moving average is $32.53.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. The company had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

Insider Buying and Selling

In other 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 transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 56.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles G. Griffie bought 1,275 shares of the company's stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RRC has been the topic of a number of recent analyst reports. Stephens lifted their price objective on Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Benchmark reissued a "hold" rating on shares of Range Resources in a research report on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on shares of Range Resources from $39.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. UBS Group reduced their price target on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating on the stock in a research report on Wednesday, September 18th. Finally, Bank of America started coverage on shares of Range Resources in a report on Monday, October 28th. They issued a "neutral" rating and a $34.00 price objective for the company. Four investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.00.

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.