Verition Fund Management LLC Purchases 324,011 Shares of Range Resources Co. (NYSE:RRC)

Verition Fund Management LLC increased its position in Range Resources Co. (NYSE:RRC - Free Report) by 379.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 409,427 shares of the oil and gas exploration company's stock after acquiring an additional 324,011 shares during the period. Verition Fund Management LLC owned about 0.17% of Range Resources worth $12,594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RRC. Lingotto Investment Management LLP raised its position in Range Resources by 1.5% in the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company's stock worth $216,326,000 after acquiring an additional 93,782 shares during the period. KGH Ltd raised its holdings in Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company's stock worth $203,862,000 after purchasing an additional 190,000 shares during the period. Canoe Financial LP lifted 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 purchasing an additional 1,422,200 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Range Resources during the second quarter valued at about $78,223,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Range Resources by 4.8% in the third 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 during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RRC. Piper Sandler cut their price objective on Range Resources from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, November 18th. UBS Group decreased their price objective on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating on the stock in a research report on Wednesday, September 18th. Mizuho dropped their target price on shares of Range Resources from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. 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 report on Tuesday, August 20th. Finally, Royal Bank of Canada upped their price objective on Range Resources from $35.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Monday, November 25th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $35.00.

Range Resources Trading Up 0.4 %

Shares of NYSE:RRC traded up $0.15 during trading on Friday, reaching $35.74. The company's stock had a trading volume of 858,209 shares, compared to its average volume of 2,080,599. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm's 50 day simple moving average is $32.19 and its two-hundred day simple moving average is $32.55. The stock has a market capitalization of $8.62 billion, a PE ratio of 18.05 and a beta of 1.80.

Range Resources (NYSE:RRC - Get Free Report) last released its 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. The firm had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. On average, research analysts predict that Range Resources Co. will post 1.9 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 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%.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the business's stock in a transaction 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 owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the business's stock in a transaction on Thursday, October 24th. The stock was acquired 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 in the company, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

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.