Dynamic Technology Lab Private Ltd Raises Holdings in Range Resources Co. (NYSE:RRC)

Dynamic Technology Lab Private Ltd raised its position in Range Resources Co. (NYSE:RRC) by 164.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,655 shares of the oil and gas exploration company’s stock after acquiring an additional 22,191 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Range Resources were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Range Resources in the 1st quarter valued at $220,000. Hancock Whitney Corp acquired a new stake in shares of Range Resources in the 1st quarter valued at approximately $232,000. Cetera Investment Advisers boosted its position in shares of Range Resources by 906.5% during the 1st quarter. Cetera Investment Advisers now owns 89,940 shares of the oil and gas exploration company’s stock worth $3,097,000 after purchasing an additional 81,004 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Range Resources by 4.4% during the first quarter. Cetera Advisors LLC now owns 15,720 shares of the oil and gas exploration company’s stock worth $541,000 after buying an additional 665 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Range Resources by 2.1% in the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after acquiring an additional 133,565 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Range Resources stock opened at $36.28 on Wednesday. The company has a market cap of $8.75 billion, a PE ratio of 18.32 and a beta of 1.80. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a fifty day moving average price of $31.74 and a two-hundred day moving average price of $32.53. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC) last issued its earnings results 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. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same period last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts expect that Range Resources Co. will post 1.88 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. Range Resources’s payout ratio is 16.16%.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RRC. JPMorgan Chase & Co. lowered their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Royal Bank of Canada increased their price objective on shares of Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, August 20th. Stephens lifted their price target on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group decreased their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, September 18th. Four 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. According to data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $35.00.

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.