Fisher Asset Management LLC Sells 70,238 Shares of Range Resources Co. (NYSE:RRC)

Fisher Asset Management LLC reduced its position in Range Resources Co. (NYSE:RRC) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,382 shares of the oil and gas exploration company’s stock after selling 70,238 shares during the quarter. Fisher Asset Management LLC’s holdings in Range Resources were worth $33,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings 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 worth $57,000 after buying an additional 299 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after acquiring an additional 350 shares during the period. Commerce Bank grew its position in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares in the last quarter. Inscription Capital LLC grew its position in shares of Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after purchasing an additional 433 shares in the last quarter. Finally, Orser Capital Management LLC raised its stake in Range Resources by 1.0% during the 3rd quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock valued at $1,661,000 after purchasing an additional 550 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Trading Up 1.3 %

Shares of RRC opened at $36.28 on Wednesday. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $31.74 and its 200-day simple moving average is $32.53. The company has a market cap of $8.75 billion, a P/E ratio of 18.32 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.88%. Range Resources’s payout ratio is 16.16%.

Analyst Ratings Changes

RRC has been the subject of a number of research analyst reports. Bank of America began coverage on shares of Range Resources in a report on Monday, October 28th. They set a “neutral” rating and a $34.00 price objective for the company. Royal Bank of Canada lifted 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. The Goldman Sachs Group decreased their price target 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. Piper Sandler cut their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. decreased their target price 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. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Transactions at Range Resources

In related news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the business’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 directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company’s stock.

Range Resources 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.