DRW Securities LLC Has $1.08 Million Stock Position in Range Resources Co. (NYSE:RRC)

DRW Securities LLC decreased its holdings in shares of Range Resources Co. (NYSE:RRC) by 31.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the oil and gas exploration company’s stock after selling 15,885 shares during the quarter. DRW Securities LLC’s holdings in Range Resources were worth $1,077,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its stake in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the last quarter. Bogart Wealth LLC acquired a new position in Range Resources in the 3rd quarter valued at $49,000. Fifth Third Bancorp grew its stake in Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares during the last quarter. Perkins Coie Trust Co acquired a new position in Range Resources in the 2nd quarter valued at $67,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources in the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

NYSE:RRC opened at $35.88 on Tuesday. The company has a 50-day moving average of $31.74 and a 200-day moving average of $32.53. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 18.12 and a beta of 1.80. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same period last year, the firm posted $0.43 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts anticipate that Range Resources Co. will post 1.88 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RRC. The Goldman Sachs Group lowered their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Bank of America assumed coverage on shares of Range Resources in a research note on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price on the stock. UBS Group reduced their price target on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. Morgan Stanley reduced their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada increased their price target on shares of Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a report on Monday. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity at Range Resources

In related news, Director Charles G. Griffie acquired 1,275 shares of the stock in a transaction on Thursday, October 24th. The stock was purchased 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. The trade was a 27.44 % increase in their position. The acquisition 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 the firm’s stock in a transaction dated 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 owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently 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.