Sanctuary Advisors LLC Takes $205,000 Position in Range Resources Co. (NYSE:RRC)

Sanctuary Advisors LLC purchased a new position in shares of Range Resources Co. (NYSE:RRC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,668 shares of the oil and gas exploration company’s stock, valued at approximately $205,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Range Resources in the 3rd quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings 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 valued at $46,000 after acquiring an additional 705 shares during the period. Bogart Wealth LLC purchased a new stake in shares of Range Resources during the 3rd quarter worth $49,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources during the 2nd quarter worth $67,000. Finally, CWM LLC increased its holdings in shares of Range Resources by 276.8% in the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company raised their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Royal Bank of Canada raised their price target on Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Finally, Morgan Stanley decreased their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.00.

Range Resources Price Performance

Shares of NYSE:RRC opened at $34.79 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $33.60 and a 200 day simple moving average of $32.22. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a market cap of $8.40 billion, a PE ratio of 17.57 and a beta of 1.85.

Range Resources (NYSE:RRC) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $617.90 million. During the same period in the prior year, the business earned $0.43 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Range Resources Co. will post 1.91 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.92%. Range Resources’s dividend payout ratio is presently 16.16%.

Insider Buying and Selling at Range Resources

In other news, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Range Resources 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.