Range Resources Co. (NYSE:RRC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Range Resources Co. (NYSE:RRC) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,003,299 shares of the oil and gas exploration company’s stock after buying an additional 35,344 shares during the period. Geode Capital Management LLC owned 1.66% of Range Resources worth $123,174,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares during the period. M&T Bank Corp lifted its stake in shares of Range Resources by 3.1% during the 3rd 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. CIBC Asset Management Inc boosted its holdings in shares of Range Resources by 5.4% during the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after purchasing an additional 350 shares during the last quarter. Commerce Bank grew its position in shares of Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the period. Finally, Inscription Capital LLC increased its stake in Range Resources by 3.6% in the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Charles G. Griffie purchased 1,275 shares of the firm’s 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 completion of the purchase, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’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 sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Range Resources Price Performance

Shares of RRC stock opened at $34.15 on Wednesday. The firm has a fifty day simple moving average of $33.02 and a 200-day simple moving average of $32.34. The company has a market capitalization of $8.24 billion, a PE ratio of 17.25 and a beta of 1.85. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a current ratio of 0.54, a quick 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, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate 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 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 of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Analyst Ratings Changes

Several research firms have commented on RRC. Stephens lifted their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley dropped their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price target 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. Bank of America began coverage on shares of Range Resources in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

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.