Pathstone Holdings LLC Raises Holdings in Range Resources Co. (NYSE:RRC)

Pathstone Holdings LLC boosted its stake in Range Resources Co. (NYSE:RRC) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,683 shares of the oil and gas exploration company’s stock after purchasing an additional 3,238 shares during the period. Pathstone Holdings LLC’s holdings in Range Resources were worth $2,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its stake in shares of Range Resources by 135.5% in the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock worth $3,445,000 after buying an additional 64,443 shares during the period. TCW Group Inc. increased 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 valued at $1,671,000 after acquiring an additional 32,433 shares during the period. Mariner Investment Group LLC bought a new position in shares of Range Resources during the third quarter valued at about $1,077,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Range Resources by 26.2% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company’s stock worth $39,777,000 after purchasing an additional 246,172 shares during the period. Finally, Boston Partners grew its stake in shares of Range Resources by 2.1% in 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 purchasing an additional 133,565 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE:RRC opened at $35.88 on Tuesday. The firm’s 50 day moving average price is $31.74 and its 200-day moving average price is $32.53. 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 stock has a market capitalization of $8.66 billion, a PE ratio of 18.12 and a beta of 1.80. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.16. The business 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. Equities research analysts expect that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. 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 0.89%. Range Resources’s payout ratio is currently 16.16%.

Insider Activity

In other news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, with a total value 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. This represents a 27.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Morgan Stanley lowered their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a research report on Tuesday, August 20th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, UBS Group cut their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research note on Wednesday, September 18th. Four 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

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.