Range Resources Co. (NYSE:RRC) is Requisite Capital Management LLC’s 8th Largest Position

Requisite Capital Management LLC lessened its stake in Range Resources Co. (NYSE:RRC) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,759 shares of the oil and gas exploration company’s stock after selling 5,100 shares during the period. Range Resources makes up about 2.0% of Requisite Capital Management LLC’s holdings, making the stock its 8th biggest holding. Requisite Capital Management LLC owned 0.13% of Range Resources worth $9,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after acquiring an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares during the last quarter. Boston Partners lifted its holdings in shares of Range Resources by 2.1% in the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after acquiring an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of Range Resources by 1.5% in the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after acquiring an additional 93,782 shares during the last quarter. Finally, KGH Ltd lifted its holdings in shares of Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after acquiring an additional 190,000 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Insider Transactions at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’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 transaction of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target 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. UBS Group lowered their price target on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Finally, Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $35.41.

Range Resources Stock Performance

RRC traded up $0.24 during midday trading on Friday, hitting $31.42. 2,344,328 shares of the company traded hands, compared to its average volume of 2,341,640. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $7.61 billion, a PE ratio of 15.95 and a beta of 1.80. The company’s 50-day moving average is $30.10 and its 200 day moving average is $33.34. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid 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 dividend payout ratio (DPR) is presently 16.24%.

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.