Wealth Enhancement Advisory Services LLC Sells 574 Shares of Range Resources Co. (NYSE:RRC)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Range Resources Co. (NYSE:RRC) by 7.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,338 shares of the oil and gas exploration company’s stock after selling 574 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Range Resources were worth $226,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of RRC. Blue Trust Inc. raised its stake in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Range Resources in the 3rd quarter valued at about $49,000. Fifth Third Bancorp raised its holdings in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co bought a new stake in shares of Range Resources in the 2nd quarter valued at about $67,000. Finally, International Assets Investment Management LLC acquired a new stake in Range Resources in the 2nd quarter valued at about $67,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Range Resources

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

Range Resources Price Performance

Shares of NYSE:RRC opened at $34.46 on Tuesday. The firm has a 50 day moving average of $30.54 and a 200-day moving average of $32.66. The stock has a market capitalization of $8.32 billion, a PE ratio of 17.40 and a beta of 1.80. 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.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations 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 was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, equities research analysts predict that Range Resources Co. will post 1.87 EPS for the current fiscal year.

Range Resources Dividend Announcement

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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, September 13th. Range Resources’s payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RRC. The Goldman Sachs Group dropped their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Mizuho reduced their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Finally, Bank of America started coverage on shares of Range Resources in a report on Monday, October 28th. They issued a “neutral” rating and a $34.00 price target on the stock. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average 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.