iSAM Funds UK Ltd Takes Position in Range Resources Co. (NYSE:RRC)

iSAM Funds UK Ltd acquired a new position in shares of Range Resources Co. (NYSE:RRC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,193 shares of the oil and gas exploration company's stock, valued at approximately $467,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC acquired a new position in shares of Range Resources during the third quarter worth approximately $11,508,000. Charles Schwab Investment Management Inc. increased its position in Range Resources by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company's stock worth $62,065,000 after acquiring an additional 92,217 shares during the period. Aptus Capital Advisors LLC raised its stake in Range Resources by 135.5% during the 3rd 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. boosted its holdings in Range Resources by 186.5% in 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 purchasing an additional 32,433 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Range Resources by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company's stock valued at $2,025,000 after purchasing an additional 16,134 shares during the period. Institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of NYSE:RRC traded down $0.75 during trading on Friday, reaching $33.75. The stock had a trading volume of 2,005,348 shares, compared to its average volume of 1,916,271. The stock has a market capitalization of $8.14 billion, a PE ratio of 17.05 and a beta of 1.85. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The business's 50-day moving average price is $32.57 and its 200 day moving average price is $32.44. 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 issued its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, equities analysts predict that Range Resources Co. will post 1.9 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources's dividend payout ratio is currently 16.16%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the 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 approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the company's stock in a transaction dated 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 transaction, the director now owns 5,921 shares of the company's stock, valued at $186,274.66. The trade was 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on RRC shares. StockNews.com raised shares of Range Resources to a "sell" rating in a research report on Wednesday, November 27th. Bank of America assumed coverage on Range Resources in a report on Monday, October 28th. They issued a "neutral" rating and a $34.00 price target for the company. The Goldman Sachs Group decreased their price objective on Range Resources from $40.00 to $35.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. lowered their price objective on Range Resources from $37.00 to $31.00 and set an "underweight" rating on the stock in a research report on Thursday, September 12th. Finally, Citigroup raised their target price on Range Resources from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.06.

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.