Natixis Acquires Shares of 34,003 Range Resources Co. (NYSE:RRC)

Natixis acquired a new stake in shares of Range Resources Co. (NYSE:RRC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,003 shares of the oil and gas exploration company’s stock, valued at approximately $1,171,000.

Several other institutional investors have also added to or reduced their stakes in RRC. Benjamin F. Edwards & Company Inc. lifted its holdings in Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 666 shares during the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Range Resources in the fourth quarter worth about $52,000. Private Wealth Management Group LLC purchased a new stake in shares of Range Resources in the fourth quarter worth about $73,000. SYSTM Wealth Solutions LLC lifted its holdings in shares of Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after buying an additional 325 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Range Resources in the fourth quarter worth about $81,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Trading Down 0.7 %

Shares of Range Resources stock traded down $0.21 on Thursday, hitting $31.58. The stock had a trading volume of 2,663,620 shares, compared to its average volume of 2,491,371. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a one year low of $27.60 and a one year high of $39.33. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 16.03 and a beta of 1.87. The stock’s 50-day simple moving average is $34.99 and its two-hundred day simple moving average is $33.56.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 14.10%. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter last year, the business earned $0.27 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Range Resources Co. will post 2.09 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, June 14th. Range Resources’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RRC shares. Wolfe Research started coverage on shares of Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a research note on Thursday. Jefferies Financial Group raised their target price on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Susquehanna lowered their target price on shares of Range Resources from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Citigroup raised their target price on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.15.

Insider Buying and Selling

In other Range Resources news, Director Charles G. Griffie purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $34.65 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now directly owns 4,646 shares of the company’s stock, valued at approximately $160,983.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Charles G. Griffie acquired 1,500 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $34.65 per share, with a total value of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares of the company’s stock, valued at approximately $160,983.90. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Reginal Spiller sold 1,460 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The disclosure for this sale can be found here. Insiders sold 181,129 shares of company stock valued at $6,775,926 over the last quarter. 1.57% of the stock is owned by company insiders.

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.