Range Resources Co. (NYSE:RRC) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Range Resources Co. (NYSE:RRC) by 32.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,819 shares of the oil and gas exploration company’s stock after purchasing an additional 16,134 shares during the quarter. Victory Capital Management Inc.’s holdings in Range Resources were worth $2,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RRC. Boston Partners lifted its position in Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after buying an additional 133,565 shares during the period. Lingotto Investment Management LLP lifted its holdings 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 worth $216,326,000 after acquiring an additional 93,782 shares during the period. KGH Ltd boosted its position in shares of Range Resources by 3.2% in the second 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 during the last quarter. Canoe Financial LP grew its holdings in Range Resources by 114.9% in the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after purchasing an additional 1,422,200 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in Range Resources during the second quarter worth approximately $78,223,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Buying and Selling

In other news, 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 completion of the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 56.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at $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. 1.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stephens lifted their price target on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a research note on Tuesday, August 20th. Finally, Susquehanna dropped their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus target price of $34.94.

Range Resources Stock Performance

Shares of RRC opened at $35.72 on Monday. The business’s fifty day moving average price is $31.61 and its 200 day moving average price is $32.53. 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 12-month low of $27.29 and a 12-month high of $39.33. The stock has a market capitalization of $8.62 billion, a PE ratio of 18.04 and a beta of 1.80.

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

Range Resources Dividend Announcement

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

Range Resources 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.