Nations Financial Group Inc. IA ADV Buys 6,430 Shares of Range Resources Co. (NYSE:RRC)

Nations Financial Group Inc. IA ADV raised its stake in Range Resources Co. (NYSE:RRC) by 64.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,430 shares of the oil and gas exploration company’s stock after buying an additional 6,430 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Range Resources were worth $505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Range Resources by 25.2% in the 1st 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 during the period. William Blair Investment Management LLC bought a new stake in Range Resources during the second quarter valued at $78,223,000. Canoe Financial LP lifted its stake in shares of Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after purchasing an additional 1,422,200 shares during the period. Vanguard Group Inc. grew its stake in Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after purchasing an additional 959,011 shares during the period. Finally, Herr Investment Group LLC increased its holdings in Range Resources by 4,594.4% in the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock worth $17,133,000 after purchasing an additional 487,011 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE RRC opened at $33.90 on Thursday. The company has a market capitalization of $8.18 billion, a PE ratio of 17.12 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a 50-day simple moving average of $30.76 and a 200 day simple moving average of $32.64.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. Range Resources’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts predict that Range Resources Co. will post 1.87 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 yield of 0.94%. Range Resources’s dividend payout ratio is presently 16.16%.

Insider Transactions at Range Resources

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was acquired 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 of the company’s stock, valued at approximately $186,274.66. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles G. Griffie acquired 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired 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 trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

RRC has been the subject of several recent analyst reports. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Tuesday. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price for the company in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price 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. Wolfe Research started coverage on shares of Range Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.