Range Resources Co. (NYSE:RRC) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its position in shares of Range Resources Co. (NYSE:RRC) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,633,567 shares of the oil and gas exploration company’s stock after purchasing an additional 5,759,883 shares during the period. Price T Rowe Associates Inc. MD owned 11.80% of Range Resources worth $985,855,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Natixis acquired a new stake in shares of Range Resources in the first quarter worth approximately $1,171,000. Herr Investment Group LLC lifted its position in Range Resources by 4,594.4% during the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after buying an additional 487,011 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Range Resources by 0.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 138,482 shares of the oil and gas exploration company’s stock valued at $4,770,000 after buying an additional 1,183 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Range Resources during the first quarter valued at approximately $220,000. Finally, Vanguard Group Inc. lifted its position in Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after buying an additional 959,011 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

Shares of RRC traded up $0.20 during midday trading on Friday, hitting $31.78. 2,286,720 shares of the stock traded hands, compared to its average volume of 2,117,573. The firm has a market capitalization of $7.71 billion, a PE ratio of 16.13 and a beta of 1.87. The business’s 50 day moving average price is $34.87 and its two-hundred day moving average price is $33.58. Range Resources Co. has a 1-year low of $27.60 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $641.30 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. Equities research analysts predict that Range Resources Co. will post 2.06 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, June 14th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Wall Street Analyst Weigh In

RRC has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho lifted their price objective on shares of Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Wednesday. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Finally, Citigroup lifted their price objective on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.15.

Insiders Place Their Bets

In other Range Resources news, Director Charles G. Griffie purchased 1,500 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at $160,983.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Range Resources news, Director Charles G. Griffie purchased 1,500 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at $160,983.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Scucchi sold 49,569 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $36.91, for a total transaction of $1,829,591.79. Following the completion of the sale, the chief financial officer now owns 94,713 shares in the company, valued at $3,495,856.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,129 shares of company stock worth $6,775,926. 1.57% of the stock is owned by corporate insiders.

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.