Range Resources Corporation $RRC Shares Sold by Trust Co. of Vermont

Trust Co. of Vermont lowered its stake in Range Resources Corporation (NYSE:RRC) by 25.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,500 shares of the oil and gas exploration company’s stock after selling 500 shares during the quarter. Trust Co. of Vermont’s holdings in Range Resources were worth $61,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Hollencrest Capital Management acquired a new position in Range Resources during the 1st quarter worth approximately $33,000. Bessemer Group Inc. lifted its position in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Range Resources in the first quarter valued at $39,000. State of Wyoming purchased a new position in shares of Range Resources in the first quarter valued at $71,000. Finally, Fifth Third Bancorp grew its holdings in Range Resources by 20.6% during the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RRC shares. UBS Group cut their price objective on shares of Range Resources from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Raymond James Financial dropped their target price on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Roth Capital downgraded Range Resources from a “buy” rating to a “neutral” rating and reduced their price target for the company from $44.00 to $35.00 in a report on Monday, August 18th. Mizuho lowered their price objective on Range Resources from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of Range Resources in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $41.80.

Range Resources Stock Down 2.9%

NYSE:RRC opened at $38.57 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. Range Resources Corporation has a one year low of $28.99 and a one year high of $43.50. The stock has a 50-day simple moving average of $35.12 and a 200 day simple moving average of $36.93.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $856.28 million for the quarter, compared to analysts’ expectations of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the firm posted $0.46 earnings per share. Sell-side analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s payout ratio is currently 18.09%.

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.