Congress Asset Management Co. MA boosted its position in Range Resources Co. (NYSE:RRC – Free Report) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 363,186 shares of the oil and gas exploration company’s stock after purchasing an additional 14,215 shares during the period. Congress Asset Management Co. MA owned approximately 0.15% of Range Resources worth $11,771,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Range Resources by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 25,135,388 shares of the oil and gas exploration company’s stock valued at $634,920,000 after purchasing an additional 111,026 shares in the last quarter. Exor Capital LLP lifted its holdings in shares of Range Resources by 2.5% during the fourth quarter. Exor Capital LLP now owns 6,347,163 shares of the oil and gas exploration company’s stock valued at $101,646,000 after purchasing an additional 157,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Range Resources by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,184,171 shares of the oil and gas exploration company’s stock valued at $181,816,000 after purchasing an additional 174,385 shares during the period. Renaissance Technologies LLC increased its stake in Range Resources by 55.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock worth $106,067,000 after purchasing an additional 1,429,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Range Resources by 143.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock worth $103,169,000 after buying an additional 2,296,114 shares during the period. 94.73% of the stock is owned by institutional investors.
In related news, SVP Dori Ginn sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $37.35, for a total transaction of $933,750.00. Following the sale, the senior vice president now directly owns 85,804 shares in the company, valued at approximately $3,204,779.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.
Range Resources Price Performance
Range Resources (NYSE:RRC – Get Free Report) last issued its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.27 by $0.16. Range Resources had a net margin of 33.85% and a return on equity of 21.56%. The company had revenue of $648.77 million for the quarter, compared to the consensus estimate of $619.30 million. On average, sell-side analysts forecast that Range Resources Co. will post 2.04 EPS for the current fiscal year.
Range Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.32 annualized dividend and a yield of 1.08%. Range Resources’s dividend payout ratio is 5.73%.
Wall Street Analyst Weigh In
Several brokerages recently commented on RRC. Raymond James reduced their price target on shares of Range Resources from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, December 20th. Bank of America raised their target price on Range Resources from $44.00 to $47.00 in a research report on Wednesday, September 27th. Stifel Nicolaus dropped their price target on Range Resources from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 20th. Citigroup decreased their price objective on Range Resources from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. downgraded Range Resources from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $33.00 to $32.00 in a report on Wednesday, December 6th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Range Resources currently has an average rating of “Hold” and an average target price of $35.52.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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