Fisher Asset Management LLC Trims Position in Range Resources Co. (NYSE:RRC)

Fisher Asset Management LLC lowered its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,102,382 shares of the oil and gas exploration company's stock after selling 70,238 shares during the period. Fisher Asset Management LLC owned about 0.46% of Range Resources worth $33,909,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC lifted its position in Range Resources by 135.5% in the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company's stock valued at $3,445,000 after purchasing an additional 64,443 shares during the last quarter. TCW Group Inc. raised its holdings in Range Resources by 186.5% during the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company's stock valued at $1,671,000 after buying an additional 32,433 shares during the last quarter. Mariner Investment Group LLC purchased a new stake in Range Resources during the 3rd quarter valued at $1,077,000. Vaughan Nelson Investment Management L.P. grew its holdings in Range Resources by 26.2% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company's stock worth $39,777,000 after acquiring an additional 246,172 shares during the last quarter. Finally, Boston Partners increased its position in shares of Range Resources by 2.1% in the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company's stock valued at $224,912,000 after acquiring an additional 133,565 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RRC shares. Morgan Stanley cut their target price on Range Resources from $33.00 to $31.00 and set an "underweight" rating on the stock in a research note on Monday, September 16th. Scotiabank upgraded Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 target price for the company in a report on Tuesday, August 20th. Susquehanna cut their price target on shares of Range Resources from $36.00 to $31.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price objective on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating for the company in a report on Thursday, September 12th. Finally, Royal Bank of Canada raised their target price on shares of Range Resources from $35.00 to $40.00 and gave the stock a "sector perform" rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $35.00.

Range Resources Stock Down 1.4 %

Shares of NYSE:RRC traded down $0.52 on Wednesday, hitting $35.76. 1,115,471 shares of the company traded hands, compared to its average volume of 2,352,189. The company has a market cap of $8.63 billion, a PE ratio of 18.10 and a beta of 1.80. The stock has a 50 day simple moving average of $31.87 and a 200-day simple moving average of $32.53. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million during the quarter, compared to analysts' expectations of $617.90 million. The business's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, research analysts expect that Range Resources Co. will post 1.88 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, September 13th. Range Resources's payout ratio is 16.16%.

Insider Transactions at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value 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 $186,274.66. This trade represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company's stock.

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.