Range Resources Co. (NYSE:RRC) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its holdings in Range Resources Co. (NYSE:RRC) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,879 shares of the oil and gas exploration company’s stock after selling 12,027 shares during the quarter. Natixis Advisors LLC owned approximately 0.05% of Range Resources worth $3,995,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Boston Partners lifted its position in shares of Range Resources by 2.1% in the 1st 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 last quarter. Lingotto Investment Management LLP lifted its holdings in Range Resources by 1.5% in the second 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 last quarter. KGH Ltd lifted its holdings in 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 boosted its stake 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 acquiring an additional 1,422,200 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Range Resources during the second quarter valued at approximately $78,223,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Up 0.4 %

RRC opened at $35.72 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $8.62 billion, a PE ratio of 18.04 and a beta of 1.80. The stock’s fifty day moving average is $31.61 and its 200-day moving average is $32.56. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping 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 firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the previous year, the business earned $0.43 earnings per share. Range Resources’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts predict that Range Resources Co. will post 1.88 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. 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 payout ratio is 16.16%.

Insider Buying and Selling

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $304,121.50. This trade represents a 56.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was 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 currently owned by insiders.

Analysts Set New Price Targets

RRC has been the topic of several recent research reports. Piper Sandler cut their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Stephens raised their target price on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley lowered their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.