Franklin Resources Inc. Has $375,000 Holdings in Range Resources Co. (NYSE:RRC)

Franklin Resources Inc. decreased its stake in shares of Range Resources Co. (NYSE:RRC) by 85.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,273 shares of the oil and gas exploration company’s stock after selling 72,473 shares during the period. Franklin Resources Inc.’s holdings in Range Resources were worth $375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in Range Resources in the 3rd quarter valued at $205,000. Geode Capital Management LLC grew its position in shares of Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after purchasing an additional 35,344 shares during the last quarter. M&T Bank Corp increased its stake in shares of Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares during the period. Barclays PLC lifted its position in shares of Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after purchasing an additional 142,938 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in Range Resources during the 3rd quarter valued at approximately $467,000. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Down 1.2 %

Shares of Range Resources stock opened at $35.98 on Wednesday. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $39.33. The stock has a market capitalization of $8.68 billion, a P/E ratio of 18.17 and a beta of 1.85. The company has a 50-day simple moving average of $33.73 and a 200 day simple moving average of $32.19. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its quarterly earnings data 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 company had revenue of $615.03 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share. Research analysts expect that Range Resources Co. will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and dropped their target price for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. The Goldman Sachs Group reduced their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Morgan Stanley dropped their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Finally, Susquehanna reduced their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Three 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 stock has an average rating of “Hold” and a consensus price target of $36.00.

Insiders Place Their Bets

In related news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.