Bogart Wealth LLC Invests $49,000 in Range Resources Co. (NYSE:RRC)

Bogart Wealth LLC acquired a new stake in Range Resources Co. (NYSE:RRC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,581 shares of the oil and gas exploration company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of Range Resources by 21.2% in the second 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 in the last quarter. CIBC Asset Management Inc increased its holdings in Range Resources by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after acquiring an additional 350 shares in the last quarter. Orser Capital Management LLC raised its position in Range Resources by 1.0% during the third quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock worth $1,661,000 after acquiring an additional 550 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Range Resources by 6.0% in the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock valued at $357,000 after purchasing an additional 600 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Range Resources by 20.8% in the second quarter. GAMMA Investing LLC now owns 3,529 shares of the oil and gas exploration company’s stock valued at $118,000 after purchasing an additional 608 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RRC has been the topic of a number of recent research reports. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Wednesday. The Goldman Sachs Group decreased their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Stephens boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday. Wolfe Research assumed coverage on shares of Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Mizuho cut their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.12.

Insider Activity

In other Range Resources 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 transaction, the vice president now owns 9,670 shares in the company, valued at $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.57% of the company’s stock.

Range Resources Trading Up 1.6 %

NYSE RRC opened at $31.44 on Friday. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 15.96 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The company’s 50 day moving average price is $30.23 and its 200 day moving average price is $33.06.

Range Resources (NYSE:RRC) last issued its 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. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same quarter last year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts predict that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Friday, September 13th. Range Resources’s payout ratio is 16.24%.

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.