HighTower Advisors LLC Has $4.05 Million Stake in Range Resources Co. (NYSE:RRC)

HighTower Advisors LLC increased its stake in Range Resources Co. (NYSE:RRC - Free Report) by 59.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,571 shares of the oil and gas exploration company's stock after purchasing an additional 49,276 shares during the period. HighTower Advisors LLC owned approximately 0.05% of Range Resources worth $4,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its stake in Range Resources by 379.3% in the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company's stock valued at $12,594,000 after acquiring an additional 324,011 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Range Resources by 3.4% in the third quarter. Rockefeller Capital Management L.P. now owns 53,637 shares of the oil and gas exploration company's stock valued at $1,650,000 after purchasing an additional 1,787 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Range Resources by 5.9% in the third quarter. Townsquare Capital LLC now owns 78,455 shares of the oil and gas exploration company's stock worth $2,413,000 after purchasing an additional 4,364 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Range Resources by 329.7% during the third quarter. BNP Paribas Financial Markets now owns 57,618 shares of the oil and gas exploration company's stock worth $1,772,000 after purchasing an additional 44,209 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Range Resources in the third quarter valued at $25,000. Institutional investors own 98.93% of the company's stock.

Range Resources Stock Performance

Range Resources stock traded up $0.09 during midday trading on Thursday, hitting $36.07. The company's stock had a trading volume of 1,607,748 shares, compared to its average volume of 2,334,105. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a 50-day moving average price of $32.86 and a two-hundred day moving average price of $32.44. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 18.22 and a beta of 1.85. 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 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 firm 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 company's revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. As a group, sell-side analysts predict that Range Resources Co. will post 1.9 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources's dividend payout ratio is currently 16.16%.

Insider Activity

In related news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares of the company's stock, valued at approximately $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RRC shares. Stephens upped their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Morgan Stanley dropped their target price on shares of Range Resources from $33.00 to $31.00 and set an "underweight" rating on the stock in a report on Monday, September 16th. Susquehanna reduced their price target on Range Resources from $36.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Citigroup upped their price objective on Range Resources from $33.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, StockNews.com upgraded Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $35.50.

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.