Virginia National Bank raised its holdings in Range Resources Corp. (NYSE:RRC) by 157.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 329,030 shares of the oil and gas exploration company’s stock after purchasing an additional 201,130 shares during the quarter. Range Resources accounts for approximately 1.0% of Virginia National Bank’s investment portfolio, making the stock its 26th biggest position. Virginia National Bank’s holdings in Range Resources were worth $1,256,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Range Resources by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 24,971,010 shares of the oil and gas exploration company’s stock valued at $174,297,000 after acquiring an additional 2,574,615 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Range Resources by 1.7% during the 2nd quarter. BlackRock Inc. now owns 19,504,968 shares of the oil and gas exploration company’s stock valued at $136,144,000 after acquiring an additional 324,328 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Range Resources by 21.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,922,151 shares of the oil and gas exploration company’s stock valued at $41,317,000 after acquiring an additional 1,047,461 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Range Resources by 95.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,636,249 shares of the oil and gas exploration company’s stock valued at $32,361,000 after acquiring an additional 2,264,638 shares in the last quarter. Finally, Caymus Capital Partners L.P. boosted its holdings in shares of Range Resources by 240.5% during the 2nd quarter. Caymus Capital Partners L.P. now owns 4,631,218 shares of the oil and gas exploration company’s stock valued at $32,326,000 after acquiring an additional 3,271,218 shares in the last quarter.
In other Range Resources news, CFO Mark Scucchi acquired 9,483 shares of the stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $5.27 per share, with a total value of $49,975.41. Following the transaction, the chief financial officer now owns 14,149 shares in the company, valued at approximately $74,565.23. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP David P. Poole sold 5,843 shares of Range Resources stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $5.69, for a total value of $33,246.67. Following the completion of the transaction, the vice president now directly owns 58,196 shares of the company’s stock, valued at $331,135.24. The disclosure for this sale can be found here. Over the last three months, insiders bought 42,938 shares of company stock valued at $176,159. Corporate insiders own 0.35% of the company’s stock.
NYSE:RRC traded up $0.06 during trading hours on Wednesday, hitting $3.56. 543,289 shares of the company were exchanged, compared to its average volume of 15,631,245. The stock has a market capitalization of $902.45 million, a price-to-earnings ratio of 3.16, a price-to-earnings-growth ratio of 3.23 and a beta of 1.02. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.91. Range Resources Corp. has a one year low of $3.26 and a one year high of $18.36. The company has a fifty day simple moving average of $4.00 and a 200 day simple moving average of $6.55.
Range Resources (NYSE:RRC) last announced its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $851.43 million during the quarter, compared to analyst estimates of $672.93 million. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. Range Resources’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $0.20 EPS. Equities research analysts predict that Range Resources Corp. will post 0.33 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, September 12th. Range Resources’s dividend payout ratio (DPR) is presently 7.08%.
Several equities research analysts recently weighed in on RRC shares. MKM Partners raised Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, August 19th. ValuEngine raised Range Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley set a $4.00 price objective on Range Resources and gave the company a “sell” rating in a report on Monday, June 24th. Credit Suisse Group downgraded Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Finally, LADENBURG THALM/SH SH lowered Range Resources from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $5.00 in a research report on Monday, August 26th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Range Resources currently has a consensus rating of “Hold” and a consensus target price of $12.18.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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