Forthright Family Wealth Advisory LLC Invests $445,000 in Range Resources Co. (NYSE:RRC)

Forthright Family Wealth Advisory LLC purchased a new stake in Range Resources Co. (NYSE:RRC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,179 shares of the oil and gas exploration company’s stock, valued at approximately $445,000.

Other large investors have also added to or reduced their stakes in the company. Lingotto Investment Management LLP grew its position in shares of Range Resources by 1.5% during the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after acquiring an additional 93,782 shares during the period. KGH Ltd grew its stake in Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after acquiring an additional 190,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares in the last quarter. Canoe Financial LP lifted its position in shares of Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after purchasing an additional 1,422,200 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of Range Resources in the 2nd quarter worth approximately $78,223,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the subject of a number of analyst reports. Susquehanna decreased their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Stephens boosted their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Bank of America assumed coverage on shares of Range Resources in a report on Monday, October 28th. They set a “neutral” rating and a $34.00 price target for the company. Scotiabank upgraded shares of 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 report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average price target of $35.50.

Range Resources Price Performance

Range Resources stock traded down $0.28 during mid-day trading on Friday, hitting $35.71. 72,870 shares of the company were exchanged, compared to its average volume of 2,324,548. 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 business has a fifty day moving average of $32.86 and a 200 day moving average of $32.44. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a market capitalization of $8.62 billion, a PE ratio of 18.22 and a beta of 1.85.

Range Resources (NYSE:RRC) last posted its quarterly 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 return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter last year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Range Resources Co. will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio is currently 16.16%.

Insider Transactions at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ashley Kavanaugh sold 12,700 shares of the firm’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 completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

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.