Holocene Advisors LP Sells 273,769 Shares of Range Resources Co. (NYSE:RRC)

Holocene Advisors LP trimmed its position in Range Resources Co. (NYSE:RRC - Free Report) by 30.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 623,528 shares of the oil and gas exploration company's stock after selling 273,769 shares during the period. Holocene Advisors LP owned approximately 0.26% of Range Resources worth $19,180,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Range Resources in the third quarter worth approximately $25,000. Blue Trust Inc. lifted its position in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock worth $46,000 after purchasing an additional 705 shares during the period. Bogart Wealth LLC acquired a new stake in Range Resources in the third quarter worth approximately $49,000. Fifth Third Bancorp lifted its position in 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 period. Finally, Perkins Coie Trust Co acquired a new stake in Range Resources in the second quarter worth approximately $67,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Up 0.6 %

Shares of NYSE RRC traded up $0.22 during mid-day trading on Tuesday, reaching $35.13. The company had a trading volume of 755,838 shares, compared to its average volume of 2,338,726. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $8.48 billion, a PE ratio of 17.73 and a beta of 1.85. The stock's 50 day moving average is $32.26 and its 200-day moving average is $32.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping 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 net margin of 17.63% and a return on equity of 13.69%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, equities analysts anticipate that Range Resources Co. will post 1.9 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources's payout ratio is 16.16%.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were 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. This represents a 56.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles G. Griffie purchased 1,275 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares of the company's stock, 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. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RRC. Wells Fargo & Company cut their price objective on 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. Bank of America began coverage on Range Resources in a research report on Monday, October 28th. They set a "neutral" rating and a $34.00 price objective for the company. Piper Sandler cut their price objective on Range Resources from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Monday, November 18th. Susquehanna cut their price objective on Range Resources from $36.00 to $31.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their price objective on Range Resources from $37.00 to $31.00 and set an "underweight" rating for the company in a research report on Thursday, September 12th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Range Resources has a consensus rating of "Hold" and a consensus price target 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.