Amalgamated Bank Buys 43,532 Shares of Range Resources Co. (NYSE:RRC)

Amalgamated Bank lifted its stake in Range Resources Co. (NYSE:RRCGet Rating) by 38.0% in the first quarter, HoldingsChannel.com reports. The fund owned 158,196 shares of the oil and gas exploration company’s stock after purchasing an additional 43,532 shares during the period. Amalgamated Bank’s holdings in Range Resources were worth $4,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RRC. HighTower Advisors LLC grew its stake in shares of Range Resources by 118.9% in the fourth quarter. HighTower Advisors LLC now owns 66,493 shares of the oil and gas exploration company’s stock worth $1,185,000 after acquiring an additional 36,117 shares during the period. Schroder Investment Management Group grew its position in Range Resources by 25.4% during the fourth quarter. Schroder Investment Management Group now owns 780,334 shares of the oil and gas exploration company’s stock valued at $13,913,000 after buying an additional 157,997 shares during the period. GSA Capital Partners LLP bought a new stake in Range Resources during the fourth quarter valued at approximately $214,000. Summit Global Investments bought a new stake in Range Resources during the fourth quarter valued at approximately $264,000. Finally, Credit Suisse AG grew its position in Range Resources by 5.7% during the fourth quarter. Credit Suisse AG now owns 634,008 shares of the oil and gas exploration company’s stock valued at $11,305,000 after buying an additional 34,001 shares during the period. 84.31% of the stock is currently owned by institutional investors.

Insider Transactions at Range Resources

In related news, SVP Dori Ginn sold 5,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $34.65, for a total value of $173,250.00. Following the sale, the senior vice president now owns 80,801 shares in the company, valued at $2,799,754.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Reginal Spiller sold 1,600 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $31.44, for a total value of $50,304.00. Following the sale, the director now owns 10,685 shares in the company, valued at $335,936.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dori Ginn sold 5,000 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.65, for a total transaction of $173,250.00. Following the completion of the sale, the senior vice president now owns 80,801 shares in the company, valued at approximately $2,799,754.65. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

RRC has been the subject of several recent research reports. Scotiabank restated an “assumes” rating on shares of Range Resources in a research report on Monday, July 25th. Piper Sandler cut their target price on shares of Range Resources from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Wells Fargo & Company upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $44.00 to $49.00 in a research report on Monday, July 11th. TheStreet upgraded shares of Range Resources from a “c” rating to a “b-” rating in a research report on Tuesday, July 26th. Finally, Citigroup restated a “neutral” rating and set a $31.00 target price on shares of Range Resources in a research report on Thursday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.24.

Range Resources Price Performance

RRC stock opened at $29.87 on Wednesday. Range Resources Co. has a one year low of $16.71 and a one year high of $37.44. The company’s fifty day moving average price is $31.73 and its 200-day moving average price is $30.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $7.85 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.20 and a beta of 2.11.

Range Resources (NYSE:RRCGet Rating) last released its earnings results on Monday, July 25th. The oil and gas exploration company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.12 by $0.15. Range Resources had a net margin of 16.40% and a return on equity of 56.92%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $959.91 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 181.8% compared to the same quarter last year. On average, equities analysts anticipate that Range Resources Co. will post 5.27 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, September 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.02. Range Resources’s payout ratio is 16.49%.

About Range Resources

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Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

See Also

Want to see what other hedge funds are holding RRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Range Resources Co. (NYSE:RRCGet Rating).

Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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