Holocene Advisors LP Has $19.18 Million Holdings in Range Resources Co. (NYSE:RRC)

Holocene Advisors LP decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 623,528 shares of the oil and gas exploration company’s stock after selling 273,769 shares during the quarter. Holocene Advisors LP owned 0.26% of Range Resources worth $19,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Verition Fund Management LLC grew its holdings in shares of Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock valued at $12,594,000 after purchasing an additional 324,011 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Range Resources by 3.4% during the third quarter. Rockefeller Capital Management L.P. now owns 53,637 shares of the oil and gas exploration company’s stock worth $1,650,000 after buying an additional 1,787 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Range Resources by 5.9% during the third quarter. Townsquare Capital LLC now owns 78,455 shares of the oil and gas exploration company’s stock worth $2,413,000 after buying an additional 4,364 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Range Resources by 329.7% during the third quarter. BNP Paribas Financial Markets now owns 57,618 shares of the oil and gas exploration company’s stock worth $1,772,000 after buying an additional 44,209 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Range Resources in the 3rd quarter valued at $25,000. Institutional investors own 98.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RRC. Morgan Stanley reduced their price objective 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. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 20th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Stephens upped 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, Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Range Resources Price Performance

Shares of NYSE:RRC opened at $34.91 on Tuesday. The stock’s 50 day moving average is $32.19 and its 200-day moving average is $32.52. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 17.63 and a beta of 1.85.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for 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 business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. Sell-side analysts forecast that Range Resources Co. will post 1.9 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Insider Transactions at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 56.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

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.