Van ECK Associates Corp Sells 567 Shares of Range Resources Co. (NYSE:RRC)

Van ECK Associates Corp lowered its holdings in shares of Range Resources Co. (NYSE:RRCGet Rating) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,923 shares of the oil and gas exploration company’s stock after selling 567 shares during the period. Van ECK Associates Corp’s holdings in Range Resources were worth $99,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James & Associates grew its holdings in Range Resources by 12.4% in the 1st quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company’s stock worth $1,378,000 after acquiring an additional 4,987 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Range Resources by 31.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 35,865 shares of the oil and gas exploration company’s stock worth $1,090,000 after acquiring an additional 8,648 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in Range Resources in the 1st quarter worth $213,000. Lord Abbett & CO. LLC bought a new stake in Range Resources in the 1st quarter worth $7,059,000. Finally, Canada Pension Plan Investment Board grew its holdings in Range Resources by 1,102.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company’s stock worth $4,609,000 after acquiring an additional 139,096 shares during the last quarter. Institutional investors own 87.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Securities raised shares of Range Resources from a “hold” rating to a “buy” rating and raised their price target for the stock from $32.00 to $33.00 in a report on Thursday, September 29th. Credit Suisse Group dropped their target price on shares of Range Resources from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, October 25th. Susquehanna raised shares of Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 target price for the company in a research report on Wednesday, October 26th. Mizuho reaffirmed a “neutral” rating and issued a $32.00 target price (down from $38.00) on shares of Range Resources in a research report on Tuesday, January 10th. Finally, Susquehanna Bancshares raised shares of Range Resources to a “positive” rating and set a $38.00 target price for the company in a research report on Wednesday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.38.

Range Resources Stock Up 3.1 %

Shares of Range Resources stock opened at $26.20 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $6.33 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 0.21 and a beta of 2.11. Range Resources Co. has a 52-week low of $16.71 and a 52-week high of $37.44. The company has a 50-day simple moving average of $26.47 and a two-hundred day simple moving average of $28.44.

Range Resources (NYSE:RRCGet Rating) last issued its earnings results on Monday, October 24th. The oil and gas exploration company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $1.11 billion during 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%. The business’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 earnings per share. On average, analysts anticipate that Range Resources Co. will post 4.88 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were paid a $0.08 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.22%. Range Resources’s dividend payout ratio is presently 6.57%.

Range Resources Company Profile

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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.

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

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