Builder Investment Group Inc. ADV Decreases Stock Holdings in Range Resources Co. (NYSE:RRC)

Builder Investment Group Inc. ADV trimmed its holdings in Range Resources Co. (NYSE:RRC) by 42.4% during the third quarter, HoldingsChannel reports. The firm owned 82,060 shares of the oil and gas exploration company’s stock after selling 60,500 shares during the period. Builder Investment Group Inc. ADV’s holdings in Range Resources were worth $2,524,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norden Group LLC increased its holdings in shares of Range Resources by 1,599.9% during the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock worth $5,154,000 after buying an additional 140,891 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Range Resources by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after buying an additional 16,619 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after buying an additional 5,759,883 shares during the last quarter. TCW Group Inc. increased its holdings in shares of Range Resources by 186.5% during the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock worth $1,671,000 after buying an additional 32,433 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Range Resources by 2.1% during 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. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Range Resources

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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on RRC shares. Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. Mizuho cut their target price on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler lowered Range Resources from an “overweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, Wolfe Research started coverage on Range Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.06.

Range Resources Price Performance

RRC opened at $29.95 on Tuesday. The company has a 50-day moving average of $30.20 and a 200-day moving average of $33.16. The company has a market capitalization of $7.27 billion, a P/E ratio of 15.20 and a beta of 1.80. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. Equities analysts expect that Range Resources Co. will post 1.88 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is 16.24%.

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.