Range Resources Co. (NYSE:RRC) Shares Sold by TCW Group Inc.

TCW Group Inc. cut its position in Range Resources Co. (NYSE:RRC) by 23.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,269 shares of the oil and gas exploration company’s stock after selling 11,555 shares during the period. TCW Group Inc.’s holdings in Range Resources were worth $1,177,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Range Resources by 13.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,912 shares of the oil and gas exploration company’s stock worth $265,000 after buying an additional 920 shares during the period. ORG Partners LLC acquired a new stake in shares of Range Resources in the second quarter worth $110,000. Assenagon Asset Management S.A. purchased a new position in shares of Range Resources during the second quarter worth $3,274,000. Raymond James & Associates lifted its position in Range Resources by 4.5% during the second quarter. Raymond James & Associates now owns 249,652 shares of the oil and gas exploration company’s stock valued at $8,371,000 after purchasing an additional 10,775 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in 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 during the last quarter. 98.93% of the stock is currently 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 stock was 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 in the company, valued at $304,121.50. This represents a 56.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RRC. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $28.00 to $35.00 in a research note on Monday. Stephens upped their price objective on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Scotiabank raised shares of 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. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada raised their price target on shares of Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.50.

Range Resources Price Performance

Shares of Range Resources stock opened at $36.07 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $32.86 and a two-hundred day simple moving average of $32.44. The stock has a market capitalization of $8.70 billion, a P/E ratio of 18.22 and a beta of 1.85. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same quarter last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts predict that Range Resources Co. will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 0.89%. Range Resources’s dividend payout ratio is presently 16.16%.

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.