Range Resources Co. (NYSE:RRC) Shares Bought by Xponance Inc.

Xponance Inc. grew its stake in shares of Range Resources Co. (NYSE:RRC) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,187 shares of the oil and gas exploration company’s stock after purchasing an additional 579 shares during the quarter. Xponance Inc.’s holdings in Range Resources were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of RRC. Invesco Ltd. lifted its stake in shares of Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after purchasing an additional 693,970 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Range Resources in the third quarter worth about $19,704,000. Lord Abbett & CO. LLC lifted its stake in shares of Range Resources by 66.6% in the third quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock worth $47,416,000 after acquiring an additional 585,000 shares in the last quarter. Canoe Financial LP lifted its stake in shares of Range Resources by 86.5% in the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after acquiring an additional 554,400 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Range Resources in the third quarter worth about $10,590,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

RRC has been the topic of several recent analyst reports. StockNews.com upgraded Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their price target for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Citigroup boosted their price target on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Morgan Stanley boosted their price objective on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Finally, Barclays began coverage on Range Resources in a report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $36.40.

Range Resources Stock Down 0.2 %

NYSE:RRC opened at $37.69 on Friday. The firm has a market capitalization of $9.13 billion, a PE ratio of 19.13 and a beta of 1.83. The stock has a 50 day moving average of $33.67 and a 200-day moving average of $32.40. Range Resources Co. has a 52 week low of $23.92 and a 52 week high of $38.25. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.58% and a net margin of 17.00%. The business had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the prior year, the company posted $0.96 EPS. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. Analysts predict that Range Resources Co. will post 1.99 EPS for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Buying and Selling

In related news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.57% of the company’s stock.

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.