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

DRW Securities LLC lessened its stake in Range Resources Co. (NYSE:RRC) by 31.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

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

Insider Transactions at Range Resources

In other news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, for a total transaction 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 represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

RRC has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Susquehanna lowered their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Benchmark restated a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Wells Fargo & Company decreased their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Range Resources Stock Performance

Shares of RRC opened at $35.88 on Tuesday. The firm’s 50 day moving average price is $31.74 and its two-hundred day moving average price is $32.53. 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 has a market cap of $8.66 billion, a P/E ratio of 18.12 and a beta of 1.80. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business 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 firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, analysts forecast that Range Resources Co. will post 1.88 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.16%.

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.