Raymond James & Associates Has $8 Million Holdings in Range Resources Co. (NYSE:RRC)

Raymond James & Associates grew its stake in Range Resources Co. (NYSE:RRC) by 4.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 260,043 shares of the oil and gas exploration company’s stock after buying an additional 10,391 shares during the quarter. Raymond James & Associates’ holdings in Range Resources were worth $7,999,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norden Group LLC lifted its position in shares of Range Resources by 1,599.9% in the first quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock worth $5,154,000 after purchasing an additional 140,891 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Range Resources by 11.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after purchasing an additional 16,619 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Range Resources by 25.2% in the first 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 in the last quarter. TCW Group Inc. lifted its position in shares of Range Resources by 186.5% in the second quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock worth $1,671,000 after purchasing an additional 32,433 shares in the last quarter. Finally, Boston Partners raised its position in Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after acquiring an additional 133,565 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 1.6 %

Shares of Range Resources stock opened at $31.49 on Thursday. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 15.98 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The firm’s 50-day moving average price is $30.26 and its two-hundred day moving average price is $32.91.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) 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 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 business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. On average, analysts forecast that Range Resources Co. will post 1.89 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. Range Resources’s payout ratio is currently 16.24%.

Insider Activity

In related news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred 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 sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,921 shares in the company, valued at $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RRC has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. The Goldman Sachs Group dropped their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Susquehanna dropped their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.00.

About Range Resources

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.