Builder Investment Group Inc. ADV Lowers Stake in Range Resources Co. (NYSE:RRC)

Builder Investment Group Inc. ADV lowered its stake in shares of Range Resources Co. (NYSE:RRC) by 42.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,060 shares of the oil and gas exploration company’s stock after selling 60,500 shares during the period. Builder Investment Group Inc. ADV’s holdings in Range Resources were worth $2,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RRC. Blue Trust Inc. lifted its holdings in Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 705 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares during the last quarter. Perkins Coie Trust Co acquired a new position in shares of Range Resources in the 2nd quarter valued at $67,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at $67,000. Finally, CWM LLC increased its position in shares of Range Resources by 276.8% in the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 1,694 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 0.5 %

Shares of Range Resources stock opened at $29.95 on Tuesday. The firm has a market capitalization of $7.27 billion, a PE ratio of 15.20 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. The firm’s 50-day moving average price is $30.20 and its 200 day moving average price is $33.16. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. Range Resources’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. On average, sell-side analysts predict that Range Resources Co. will post 1.88 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.24%.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRC. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 20th. UBS Group cut their price target on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley cut their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. Susquehanna cut their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.06.

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.