Foster & Motley Inc. Has $714,000 Stock Holdings in Range Resources Co. (NYSE:RRC)

Foster & Motley Inc. lifted its stake in Range Resources Co. (NYSE:RRC) by 18.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,205 shares of the oil and gas exploration company’s stock after acquiring an additional 3,665 shares during the quarter. Foster & Motley Inc.’s holdings in Range Resources were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RRC. Price T Rowe Associates Inc. MD increased its stake in shares of Range Resources by 25.2% in the first 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 acquiring an additional 5,759,883 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Range Resources during the second quarter worth $78,223,000. Canoe Financial LP increased its position in Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after buying an additional 1,422,200 shares during the last quarter. Vanguard Group Inc. increased 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 worth $843,213,000 after buying an additional 959,011 shares during the last quarter. Finally, Herr Investment Group LLC increased 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 worth $17,133,000 after buying an additional 487,011 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Price Performance

Shares of Range Resources stock opened at $32.75 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 firm’s 50-day simple moving average is $30.39 and its 200-day simple moving average is $32.76. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The firm has a market cap of $7.90 billion, a P/E ratio of 16.54 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. As a group, research analysts expect that Range Resources Co. will post 1.87 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RRC. Susquehanna lowered their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Stephens raised their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho lowered their price target 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. JPMorgan Chase & Co. lowered their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.

Insider Buying and Selling at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Ashley Kavanaugh sold 12,700 shares of the business’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 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles G. Griffie purchased 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

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.