Congress Asset Management Co. Grows Stock Holdings in Range Resources Co. (NYSE:RRC)

Congress Asset Management Co. raised its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 572,192 shares of the oil and gas exploration company's stock after acquiring an additional 38,319 shares during the period. Congress Asset Management Co. owned about 0.24% of Range Resources worth $17,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock worth $46,000 after acquiring an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Range Resources in the third quarter worth $49,000. Fifth Third Bancorp increased its holdings 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 valued at $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co bought a new position in Range Resources during the 2nd quarter worth $67,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the 2nd quarter worth about $67,000. 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 Range Resources stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of the 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 acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $304,121.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RRC shares. Jefferies Financial Group upped their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a "hold" rating in a research note on Monday, July 8th. Barclays raised shares of Range Resources from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd. UBS Group dropped their price objective on Range Resources from $30.00 to $27.00 and set a "sell" rating on the stock in a research note on Wednesday, September 18th. Piper Sandler lowered Range Resources from an "overweight" rating to a "neutral" rating and cut their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, Bank of America started coverage on Range Resources in a report on Monday. They issued a "neutral" rating and a $34.00 target price for the company. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and an average price target of $35.00.

Range Resources Stock Performance

Shares of Range Resources stock traded down $0.21 during trading hours on Friday, reaching $29.83. The company had a trading volume of 2,567,893 shares, compared to its average volume of 2,371,878. The firm has a market cap of $7.20 billion, a PE ratio of 15.06 and a beta of 1.80. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day simple moving average of $30.24 and a 200 day simple moving average of $32.85.

Range Resources (NYSE:RRC - Get Free Report) last issued 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. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter last year, the company earned $0.43 EPS. The firm's revenue was up .9% compared to the same quarter last year. On average, analysts anticipate that Range Resources Co. will post 1.87 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors 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 yield of 1.07%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

Range Resources 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.