Meeder Asset Management Inc. lessened its holdings in shares of Range Resources Co. (NYSE:RRC – Get Rating) by 78.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,061 shares of the oil and gas exploration company’s stock after selling 3,972 shares during the quarter. Meeder Asset Management Inc.’s holdings in Range Resources were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its stake in Range Resources by 385.3% in the first quarter. Exchange Traded Concepts LLC now owns 1,485 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 1,179 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Range Resources during the 1st quarter worth approximately $255,000. Mutual of America Capital Management LLC raised its position in shares of Range Resources by 567.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 227,773 shares of the oil and gas exploration company’s stock worth $6,920,000 after acquiring an additional 193,645 shares in the last quarter. Heritage Investors Management Corp bought a new position in shares of Range Resources during the first quarter valued at approximately $219,000. Finally, FDx Advisors Inc. purchased a new position in shares of Range Resources during the first quarter valued at approximately $327,000. Hedge funds and other institutional investors own 84.31% of the company’s stock.
In related news, SVP Dori Ginn sold 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.65, for a total value of $173,250.00. Following the transaction, the senior vice president now directly owns 80,801 shares of the company’s stock, valued at approximately $2,799,754.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.93% of the company’s stock.
Analyst Upgrades and Downgrades
Range Resources Stock Performance
Shares of RRC opened at $28.50 on Tuesday. Range Resources Co. has a one year low of $16.71 and a one year high of $37.44. The business has a fifty day moving average of $28.11 and a 200 day moving average of $29.68. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $6.89 billion, a P/E ratio of 5.85, a PEG ratio of 0.20 and a beta of 2.12.
Range Resources (NYSE:RRC – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The oil and gas exploration company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.02). The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Range Resources had a net margin of 30.87% and a return on equity of 60.30%. Range Resources’s revenue for the quarter was up 267.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts anticipate that Range Resources Co. will post 4.99 EPS for the current year.
Range Resources Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, September 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.02. Range Resources’s dividend payout ratio (DPR) is currently 6.57%.
Range Resources Profile
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.
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