Range Resources Co. (NYSE:RRC) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Range Resources Co. (NYSE:RRC) by 10.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 437,466 shares of the oil and gas exploration company’s stock after selling 49,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of Range Resources worth $13,456,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Range Resources in the 2nd quarter valued at approximately $78,223,000. Canoe Financial LP increased its holdings in Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after purchasing an additional 1,422,200 shares during the last quarter. Sagefield Capital LP increased its holdings in Range Resources by 44.8% in the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock valued at $30,408,000 after purchasing an additional 280,452 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Range Resources by 26.2% in the 2nd 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. Finally, Lloyd Harbor Capital Management LLC acquired a new stake in Range Resources in the 2nd quarter valued at approximately $6,706,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RRC shares. Wells Fargo & Company dropped their target price on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Morgan Stanley reduced their target price on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. UBS Group reduced their target price on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Wednesday, September 18th. Finally, Susquehanna reduced their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.06.

Range Resources Stock Down 2.2 %

RRC stock opened at $33.75 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company’s 50 day moving average is $32.57 and its two-hundred day moving average is $32.44. The stock has a market cap of $8.14 billion, a P/E ratio of 17.05 and a beta of 1.85.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts expect that Range Resources Co. will post 1.9 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources’s payout ratio is currently 16.16%.

Insider Activity

In related news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

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.