Pekin Hardy Strauss Inc. Buys 12,834 Shares of Range Resources Co. (NYSE:RRC)

Pekin Hardy Strauss Inc. lifted its position in Range Resources Co. (NYSE:RRC) by 120.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,484 shares of the oil and gas exploration company’s stock after purchasing an additional 12,834 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Range Resources were worth $722,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the last quarter. Bogart Wealth LLC purchased a new position in Range Resources during the 3rd quarter valued at about $49,000. Fifth Third Bancorp raised its position in 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 bought a new position in Range Resources during the 2nd quarter valued at approximately $67,000. Finally, International Assets Investment Management LLC purchased a new stake in Range Resources in the 2nd quarter worth approximately $67,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This trade 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.

Range Resources Trading Up 0.4 %

Shares of NYSE:RRC opened at $35.72 on Monday. 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 Co. has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a market cap of $8.62 billion, a P/E ratio of 18.04 and a beta of 1.80. The stock’s fifty day moving average price is $31.61 and its 200-day moving average price is $32.53.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts expect that Range Resources Co. will post 1.88 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RRC shares. Susquehanna decreased their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. UBS Group cut their target price on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research note on Wednesday, September 18th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research note on Tuesday, August 20th. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.94.

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.