Citigroup Inc. Has $7.60 Million Stake in Range Resources Co. (NYSE:RRC)

Citigroup Inc. grew its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 247,160 shares of the oil and gas exploration company's stock after buying an additional 51,544 shares during the period. Citigroup Inc. owned 0.10% of Range Resources worth $7,603,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Aptus Capital Advisors LLC grew its holdings in Range Resources by 135.5% in 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 buying an additional 64,443 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $62,065,000 after buying an additional 92,217 shares in the last quarter. TCW Group Inc. boosted its position 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 buying an additional 32,433 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Range Resources by 32.5% during 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 acquiring an additional 16,134 shares in the last quarter. Finally, Mariner Investment Group LLC acquired a new stake in shares of Range Resources during the third quarter valued at about $1,077,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Insider Buying and Selling

In other 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 completion of the sale, the vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles G. Griffie acquired 1,275 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Mizuho reduced their price target on Range Resources from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of 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. UBS Group cut their price target on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating on the stock in a report on Wednesday, September 18th. Benchmark reissued a "hold" rating on shares of Range Resources in a report on Wednesday, October 23rd. Finally, Scotiabank upgraded shares of Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 target price on the stock in a research note on Tuesday, August 20th. Four investment 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $35.00.

Range Resources Stock Performance

Shares of RRC stock traded up $0.15 during trading hours on Friday, reaching $35.74. The stock had a trading volume of 858,209 shares, compared to its average volume of 2,080,599. 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 firm has a 50-day simple moving average of $32.19 and a 200-day simple moving average of $32.55. The firm has a market capitalization of $8.62 billion, a PE ratio of 18.05 and a beta of 1.80. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities analysts forecast that Range Resources Co. will post 1.9 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources's payout ratio is currently 16.16%.

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.