Cwm LLC Buys 1,694 Shares of Range Resources Co. (NYSE:RRC)

Cwm LLC lifted its holdings in Range Resources Co. (NYSE:RRC) by 276.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,306 shares of the oil and gas exploration company’s stock after purchasing an additional 1,694 shares during the period. Cwm LLC’s holdings in Range Resources were worth $71,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RRC. Price T Rowe Associates Inc. MD lifted its position in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after purchasing an additional 5,759,883 shares during the period. William Blair Investment Management LLC purchased a new stake in Range Resources during the second quarter valued at approximately $78,223,000. Vanguard Group Inc. lifted its position in Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after acquiring an additional 959,011 shares during the last quarter. Herr Investment Group LLC lifted its position in Range Resources by 4,594.4% during the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after acquiring an additional 487,011 shares during the last quarter. Finally, Sagefield Capital LP lifted its position in Range Resources by 44.8% during 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 last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.3 %

RRC stock opened at $31.33 on Monday. The firm has a market cap of $7.58 billion, a PE ratio of 15.82 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s fifty day moving average is $30.25 and its 200 day moving average is $32.99. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 13.73%. The company’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, research analysts forecast that Range Resources Co. will post 1.89 EPS for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RRC. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Susquehanna decreased their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.06.

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.