Natixis Advisors LLC Has $6.34 Million Stock Holdings in Range Resources Corporation (NYSE:RRC)

Key Points

• Natixis Advisors LLC increased its stake in Range Resources Corporation by 10.7% during the first quarter, owning 158,744 shares valued at approximately $6.34 million.
• Various institutional investors have also boosted their positions, with a comprehensive ownership of 98.93% of the company's stock.
• Range Resources has experienced a recent decline in stock price, trading down 0.6% to $35.04, and reported a quarterly earnings per share of $0.66, exceeding analysts' estimates.

Natixis Advisors LLC raised its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,744 shares of the oil and gas exploration company's stock after buying an additional 15,374 shares during the quarter. Natixis Advisors LLC owned about 0.07% of Range Resources worth $6,338,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Range Resources by 23.2% in the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after purchasing an additional 21,440 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Range Resources by 98.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock valued at $720,000 after acquiring an additional 8,941 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Range Resources by 24.5% during the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock worth $15,249,000 after purchasing an additional 83,353 shares in the last quarter. Advisor Resource Council acquired a new stake in Range Resources during the first quarter worth approximately $622,000. Finally, Goehring & Rozencwajg Associates LLC raised its holdings in Range Resources by 1.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock worth $57,803,000 after purchasing an additional 25,403 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Trading Down 0.9%

Shares of NYSE:RRC traded down $0.33 during trading on Friday, reaching $34.54. 1,868,796 shares of the stock were exchanged, compared to its average volume of 2,896,919. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 0.28 and a beta of 0.60. Range Resources Corporation has a 12-month low of $27.55 and a 12-month high of $43.50. The firm's 50-day moving average price is $38.48 and its 200 day moving average price is $37.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. The firm had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. During the same quarter in the prior year, the business earned $0.46 EPS. On average, sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's dividend payout ratio is currently 18.09%.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of research reports. Barclays raised their target price on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Susquehanna boosted their target price on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Stephens restated an "overweight" rating and set a $49.00 target price on shares of Range Resources in a research report on Wednesday, April 23rd. Bank of America lifted their price target on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group boosted their target price on shares of Range Resources from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and a consensus price target of $43.37.

Insider Transactions at Range Resources

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total value of $1,449,057.00. Following the sale, the chief executive officer directly owned 58,431 shares of the company's stock, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the transaction, the vice president directly owned 1,723 shares in the company, valued at $67,197. This trade represents a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,498 shares of company stock valued at $2,508,701. 1.00% of the stock is currently owned by 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.