Dynamic Technology Lab Private Ltd Has $1.10 Million Position in Range Resources Co. (NYSE:RRC)

Dynamic Technology Lab Private Ltd lifted its position in Range Resources Co. (NYSE:RRC) by 164.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 35,655 shares of the oil and gas exploration company’s stock after buying an additional 22,191 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Range Resources were worth $1,097,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC lifted its position in shares of Range Resources by 135.5% in the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock worth $3,445,000 after buying an additional 64,443 shares during the last quarter. TCW Group Inc. lifted its stake in shares of Range Resources by 186.5% in the second quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock valued at $1,671,000 after buying an additional 32,433 shares during the period. Mariner Investment Group LLC bought a new position in Range Resources during the third quarter valued at about $1,077,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Range Resources by 26.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company’s stock valued at $39,777,000 after purchasing an additional 246,172 shares in the last quarter. Finally, Boston Partners raised its stake 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 valued at $224,912,000 after buying an additional 133,565 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $36.28 on Wednesday. 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 50-day simple moving average of $31.74 and a 200 day simple moving average of $32.53. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 18.32 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly 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 business had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, sell-side analysts predict that Range Resources Co. will post 1.88 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is 16.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RRC. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, August 20th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. StockNews.com raised Range Resources to a “sell” rating in a research note on Tuesday, November 12th. Mizuho decreased their price target on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, Royal Bank of Canada raised their target price on shares of Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday. Four investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

Insider Activity at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

About Range Resources

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.