Tradewinds Capital Management LLC Buys New Position in Range Resources Co. (NYSE:RRC)

Tradewinds Capital Management LLC bought a new stake in shares of Range Resources Co. (NYSE:RRC) in the 1st quarter, Holdings Channel.com reports. The firm bought 4,000 shares of the oil and gas exploration company’s stock, valued at approximately $138,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RRC. Deutsche Bank AG boosted its position in shares of Range Resources by 80.9% in the 3rd quarter. Deutsche Bank AG now owns 23,155 shares of the oil and gas exploration company’s stock valued at $750,000 after purchasing an additional 10,357 shares during the period. Hsbc Holdings PLC boosted its position in shares of Range Resources by 137.7% in the 3rd quarter. Hsbc Holdings PLC now owns 21,080 shares of the oil and gas exploration company’s stock valued at $687,000 after purchasing an additional 12,210 shares during the period. Natixis Advisors L.P. boosted its position in shares of Range Resources by 80.9% in the 3rd quarter. Natixis Advisors L.P. now owns 102,868 shares of the oil and gas exploration company’s stock valued at $3,334,000 after purchasing an additional 46,010 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Range Resources by 3.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 109,840 shares of the oil and gas exploration company’s stock valued at $3,560,000 after purchasing an additional 3,874 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Range Resources by 78.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 22,006 shares of the oil and gas exploration company’s stock valued at $713,000 after purchasing an additional 9,687 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

RRC traded up $0.08 during midday trading on Wednesday, reaching $34.23. The company’s stock had a trading volume of 349,846 shares, compared to its average volume of 2,507,634. The stock has a market cap of $8.31 billion, a P/E ratio of 17.34 and a beta of 1.88. The company has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $33.24. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a twelve month low of $27.60 and a twelve month high of $39.33.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Research analysts expect that Range Resources Co. will post 2.12 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s payout ratio is presently 16.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho raised their price objective on Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Stifel Nicolaus raised their price target on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada downgraded Range Resources from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $36.00 to $39.00 in a research note on Friday, April 26th. Citigroup raised their price target on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Susquehanna raised their price objective on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.10.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the sale, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the sale, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles G. Griffie purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the purchase, the director now owns 4,646 shares in the company, valued at $160,983.90. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 197,107 shares of company stock valued at $7,379,095. 2.50% of the stock is owned by corporate 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.