Range Resources Co. (NYSE:RRC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Range Resources Co. (NYSE:RRC - Free Report) by 61.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,579,579 shares of the oil and gas exploration company's stock after purchasing an additional 604,199 shares during the period. JPMorgan Chase & Co. owned approximately 0.65% of Range Resources worth $48,588,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. HITE Hedge Asset Management LLC acquired a new stake in Range Resources in the third quarter valued at $11,508,000. Charles Schwab Investment Management Inc. grew its stake in Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company's stock valued at $62,065,000 after acquiring an additional 92,217 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings 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 acquiring an additional 64,443 shares in the last quarter. HighTower Advisors LLC raised its position in Range Resources by 59.9% during the third quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company's stock worth $4,045,000 after acquiring an additional 49,276 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Range Resources by 32.5% in the third 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 in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Insider Buying and Selling

In other news, Director Charles G. Griffie purchased 1,275 shares of the company's stock in a transaction that occurred 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 purchase, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on RRC. Citigroup lifted their price objective on Range Resources from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Stephens boosted their price target on Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com raised Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating on the stock in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Range Resources currently has a consensus rating of "Hold" and a consensus target price of $36.32.

Range Resources Trading Down 0.4 %

RRC traded down $0.14 on Friday, reaching $35.91. 3,511,009 shares of the company's stock were exchanged, compared to its average volume of 3,363,055. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company's 50 day moving average is $34.13 and its 200-day moving average is $32.23. 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 company has a market cap of $8.67 billion, a price-to-earnings ratio of 18.14 and a beta of 1.81.

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, topping analysts' consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $615.03 million during the quarter, compared to analysts' expectations of $617.90 million. During the same period in the prior year, the company earned $0.43 EPS. The firm's revenue was up .9% on a year-over-year basis. Equities analysts predict that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. Range Resources's payout ratio is currently 16.16%.

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.