Builder Investment Group Inc. ADV Decreases Stake in Range Resources Co. (NYSE:RRC)

Builder Investment Group Inc. ADV lowered its position in Range Resources Co. (NYSE:RRC - Free Report) by 42.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,060 shares of the oil and gas exploration company's stock after selling 60,500 shares during the quarter. Builder Investment Group Inc. ADV's holdings in Range Resources were worth $2,524,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Blue Trust Inc. boosted its stake 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 valued at $46,000 after acquiring an additional 705 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of 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 buying an additional 299 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Range Resources during the 2nd quarter worth approximately $67,000. International Assets Investment Management LLC purchased a new position in Range Resources in the second quarter valued at $67,000. Finally, CWM LLC increased its stake in shares of Range Resources by 276.8% in the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company's stock valued at $71,000 after purchasing an additional 1,694 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analyst Weigh In

RRC has been the subject of a number of recent research reports. Piper Sandler cut shares of Range Resources from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Morgan Stanley cut their price target on Range Resources from $33.00 to $31.00 and set an "underweight" rating on the stock in a report on Monday, September 16th. Wolfe Research assumed coverage on Range Resources in a report on Thursday, July 18th. They set a "peer perform" rating for the company. Scotiabank raised Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 price target on the stock in a research report on Tuesday, August 20th. Finally, Benchmark reiterated a "hold" rating on shares of Range Resources in a research note on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Range Resources has an average rating of "Hold" and an average price target of $35.06.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business's stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.57% of the company's stock.

Range Resources Trading Down 0.2 %

Shares of RRC traded down $0.05 during mid-day trading on Tuesday, hitting $29.90. The company had a trading volume of 2,587,192 shares, compared to its average volume of 2,345,228. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The business's 50-day simple moving average is $30.19 and its 200-day simple moving average is $33.13. The stock has a market cap of $7.25 billion, a PE ratio of 15.25 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $641.30 million during the quarter, compared to analysts' expectations of $610.24 million. During the same period in the previous year, the company earned $0.27 EPS. The business's quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources Co. will post 1.88 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, September 13th. Range Resources's payout ratio is currently 16.24%.

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.