Nations Financial Group Inc. IA ADV Acquires 6,430 Shares of Range Resources Co. (NYSE:RRC)

Nations Financial Group Inc. IA ADV increased its stake in Range Resources Co. (NYSE:RRC) by 64.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,430 shares of the oil and gas exploration company’s stock after purchasing an additional 6,430 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Range Resources were worth $505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RRC. Blue Trust Inc. grew its position in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares in the last quarter. Bogart Wealth LLC purchased a new position in shares of Range Resources in the 3rd quarter worth about $49,000. Fifth Third Bancorp boosted 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 worth $57,000 after purchasing an additional 299 shares in the last quarter. Perkins Coie Trust Co bought a new position in shares of Range Resources during the 2nd quarter valued at about $67,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Range Resources during the 2nd quarter valued at about $67,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Bank of America started coverage on shares of Range Resources in a report on Monday, October 28th. They set a “neutral” rating and a $34.00 target price on the stock. StockNews.com raised Range Resources to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Finally, Stephens upped their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four investment 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’s stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Range Resources Trading Down 0.6 %

Shares of NYSE RRC opened at $33.90 on Thursday. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $39.33. 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 firm has a 50-day moving average of $30.76 and a 200 day moving average of $32.64. The stock has a market cap of $8.18 billion, a P/E ratio of 17.12 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly 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. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Range Resources Co. will post 1.87 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.16%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources 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 completion of the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles G. Griffie acquired 1,275 shares of Range Resources 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 acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by company insiders.

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.