W.G. Shaheen & Associates DBA Whitney & Co Boosts Stock Holdings in Range Resources Co. (NYSE:RRC)

W.G. Shaheen & Associates DBA Whitney & Co increased its stake in shares of Range Resources Co. (NYSE:RRC - Free Report) by 62.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298,988 shares of the oil and gas exploration company's stock after acquiring an additional 115,142 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co owned approximately 0.12% of Range Resources worth $9,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RRC. Price T Rowe Associates Inc. MD lifted its holdings in Range Resources by 25.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company's stock valued at $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Range Resources during the 2nd quarter valued at $78,223,000. Canoe Financial LP grew its holdings in Range Resources by 114.9% in the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company's stock worth $81,299,000 after purchasing an additional 1,422,200 shares during the period. Vanguard Group Inc. boosted its stake in Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company's stock worth $843,213,000 after purchasing an additional 959,011 shares in the last quarter. Finally, Sagefield Capital LP lifted its stake in Range Resources by 44.8% during the 2nd 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. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Down 0.9 %

RRC stock traded down $0.30 during mid-day trading on Tuesday, reaching $33.95. The company had a trading volume of 756,019 shares, compared to its average volume of 2,341,192. 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 company has a market capitalization of $8.19 billion, a PE ratio of 17.31 and a beta of 1.80. The firm has a 50 day moving average of $31.10 and a 200 day moving average of $32.58. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33.

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 analysts' consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, equities analysts predict that Range Resources Co. will post 1.89 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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 0.94%. Range Resources's dividend payout ratio is presently 16.16%.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction dated 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 approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price objective 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. StockNews.com upgraded shares of Range Resources to a "sell" rating in a research note on Tuesday, November 12th. UBS Group reduced their price objective on Range Resources from $30.00 to $27.00 and set a "sell" rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company decreased 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 research note on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $39.00 price objective on shares of Range Resources in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and a consensus price target of $34.94.

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.