Van ECK Associates Corp Has $2.27 Million Stock Position in Range Resources Co. (NYSE:RRC)

Van ECK Associates Corp lifted its holdings in shares of Range Resources Co. (NYSE:RRC) by 35.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,507 shares of the oil and gas exploration company’s stock after buying an additional 19,361 shares during the period. Van ECK Associates Corp’s holdings in Range Resources were worth $2,268,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Raleigh Capital Management Inc. acquired a new position in shares of Range Resources during the 3rd quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources during the 3rd quarter worth $27,000. Larson Financial Group LLC increased its stake in shares of Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 490 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Range Resources during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RRC. Jefferies Financial Group upped their price objective on shares of Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. Barclays began coverage on shares of Range Resources in a report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price objective for the company. Mizuho reaffirmed a “buy” rating and set a $41.00 price objective (up from $39.00) on shares of Range Resources in a report on Friday, April 26th. Raymond James decreased their price objective on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, Citigroup increased their price target on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $36.62.

Range Resources Trading Up 0.7 %

Shares of Range Resources stock opened at $37.41 on Wednesday. The stock has a market capitalization of $9.08 billion, a P/E ratio of 18.99 and a beta of 1.85. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $34.47 and a 200 day simple moving average of $32.46. Range Resources Co. has a 12-month low of $24.61 and a 12-month high of $38.25.

Range Resources (NYSE:RRC) last announced its earnings results 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. The business had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the company posted $0.96 EPS. Research analysts expect that Range Resources Co. will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is presently 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Range Resources news, Director Charles G. Griffie bought 1,500 shares of Range Resources stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $34.65 per share, with a total value of $51,975.00. Following the purchase, the director now owns 4,646 shares of the company’s stock, valued at $160,983.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

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.