Range Resources Co. (NYSE:RRC) Shares Acquired by Fmr LLC

FMR LLC grew its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,478,207 shares of the oil and gas exploration company's stock after acquiring an additional 52,421 shares during the quarter. FMR LLC owned about 11.39% of Range Resources worth $845,230,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. William Blair Investment Management LLC bought a new stake in Range Resources in the 2nd quarter worth approximately $78,223,000. Canoe Financial LP increased its position in Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company's stock valued at $81,299,000 after acquiring an additional 1,422,200 shares during the last quarter. Sagefield Capital LP lifted its holdings in Range Resources by 44.8% in the second quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company's stock valued at $30,408,000 after acquiring an additional 280,452 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Range Resources by 26.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company's stock worth $39,777,000 after purchasing an additional 246,172 shares during the last quarter. Finally, Lloyd Harbor Capital Management LLC bought a new stake in Range Resources during the second quarter valued at approximately $6,706,000. 98.93% of the stock is currently owned by institutional investors.

Insider Activity at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the firm's stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on RRC. Morgan Stanley lowered their price target on shares of Range Resources from $33.00 to $31.00 and set an "underweight" rating on the stock in a report on Monday, September 16th. UBS Group decreased their price target on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company reduced their target price on shares of Range Resources from $39.00 to $38.00 and set an "equal weight" rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating for the company in a report on Thursday, September 12th. Finally, Scotiabank upgraded Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 price target for the company in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.00.

Range Resources Trading Down 1.9 %

RRC stock traded down $0.69 during trading on Thursday, hitting $35.59. The company had a trading volume of 1,952,244 shares, compared to its average volume of 2,356,005. The firm has a market capitalization of $8.59 billion, a P/E ratio of 17.97 and a beta of 1.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a 50 day simple moving average of $31.98 and a 200-day simple moving average of $32.55.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $617.90 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company's revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that Range Resources Co. will post 1.88 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. Range Resources's dividend payout ratio is presently 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.