Phocas Financial Corp. Has $8.08 Million Holdings in Range Resources Co. (NYSE:RRC)

Phocas Financial Corp. lessened its position in shares of Range Resources Co. (NYSE:RRC) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,621 shares of the oil and gas exploration company’s stock after selling 2,001 shares during the quarter. Range Resources makes up about 1.1% of Phocas Financial Corp.’s investment portfolio, making the stock its 26th largest position. Phocas Financial Corp. owned 0.09% of Range Resources worth $8,082,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $42,000. Geneos Wealth Management Inc. acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $46,000. Quent Capital LLC boosted its stake in Range Resources by 72.0% in the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company’s stock valued at $78,000 after buying an additional 912 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Range Resources by 105.2% in the fourth quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company’s stock valued at $100,000 after acquiring an additional 1,429 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity

In other news, VP Ashley Kavanaugh sold 12,880 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $39.00, for a total value of $502,320.00. Following the transaction, the vice president now directly owns 1,723 shares of the company’s stock, valued at $67,197. The trade was a 88.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Funk sold 13,582 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the transaction, the director now directly owns 54,394 shares in the company, valued at approximately $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,880 shares of company stock worth $2,815,807. Insiders own 1.00% of the company’s stock.

Range Resources Stock Up 0.2%

RRC stock opened at $39.50 on Tuesday. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 5.11 and a beta of 0.60. The business has a 50 day moving average price of $36.65 and a two-hundred day moving average price of $36.79. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last year, the firm posted $0.63 earnings per share. Analysts anticipate that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Range Resources’s dividend payout ratio (DPR) is presently 32.14%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Roth Mkm upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. The Goldman Sachs Group boosted their price objective on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Roth Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Bank of America boosted their price objective on Range Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wall Street Zen lowered Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.95.

Range Resources 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.