Range Resources Co. (NYSE:RRC) Holdings Boosted by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of Range Resources Co. (NYSE:RRC) by 107.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,359 shares of the oil and gas exploration company’s stock after buying an additional 705 shares during the period. Blue Trust Inc.’s holdings in Range Resources were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new position in shares of Range Resources during the second quarter valued at about $67,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources during the second quarter valued at about $67,000. CWM LLC increased its stake in Range Resources by 276.8% in the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 1,694 shares during the period. Finally, nVerses Capital LLC bought a new stake in Range Resources in the second quarter valued at about $107,000. Institutional investors own 98.93% of the company’s stock.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the acquisition, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Range Resources Stock Down 0.7 %

Shares of NYSE RRC opened at $29.83 on Friday. The company has a market capitalization of $7.20 billion, a P/E ratio of 15.06 and a beta of 1.80. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company’s 50 day moving average price is $30.24 and its 200-day moving average price is $32.85.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the previous year, the company earned $0.43 EPS. Range Resources’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Range Resources Co. will post 1.87 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.07%. Range Resources’s payout ratio is 16.16%.

Analysts Set New Price Targets

Several brokerages have weighed in on RRC. Mizuho decreased their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $43.00 to $31.00 in a research note on Thursday, August 15th. Finally, Wolfe Research started coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Four investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.00.

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.