Amalgamated Bank Boosts Stock Holdings in Range Resources Co. (NYSE:RRC)

Amalgamated Bank increased its position in shares of Range Resources Co. (NYSE:RRC) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,755 shares of the oil and gas exploration company’s stock after buying an additional 16,267 shares during the period. Amalgamated Bank owned 0.07% of Range Resources worth $5,502,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. purchased a new position in shares of Range Resources in the 3rd quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources in the 3rd quarter worth $27,000. Larson Financial Group LLC lifted its holdings in Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 900 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Range Resources during the third quarter worth about $49,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 4.0 %

Shares of RRC stock opened at $37.15 on Tuesday. The company has a 50-day moving average of $34.35 and a two-hundred day moving average of $32.44. The firm has a market cap of $9.01 billion, a PE ratio of 18.86 and a beta of 1.85. Range Resources Co. has a 1-year low of $24.61 and a 1-year high of $38.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, analysts predict that Range Resources Co. will post 2 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio is currently 16.24%.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Charles G. Griffie acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $34.65 per share, for a total transaction of $51,975.00. Following the purchase, the director now owns 4,646 shares of the company’s stock, valued at approximately $160,983.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Wednesday, April 24th. Susquehanna boosted their price target on Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Jefferies Financial Group raised their price objective on Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, Mizuho reaffirmed a “buy” rating and set a $41.00 target price (up previously from $39.00) on shares of Range Resources in a report on Friday, April 26th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.62.

Range Resources Company 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.