American Century Companies Inc. Has $16.71 Million Position in Range Resources Co. (NYSE:RRC)

American Century Companies Inc. boosted its position in Range Resources Co. (NYSE:RRC) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 638,349 shares of the oil and gas exploration company’s stock after purchasing an additional 15,893 shares during the quarter. American Century Companies Inc. owned about 0.26% of Range Resources worth $16,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RRC. Raymond James & Associates boosted its position in shares of Range Resources by 12.4% in the first quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company’s stock valued at $1,378,000 after acquiring an additional 4,987 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Range Resources by 31.8% during 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 purchasing an additional 8,648 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Range Resources during the 1st quarter worth $213,000. Lord Abbett & CO. LLC bought a new position in shares of Range Resources in the first quarter worth $7,059,000. Finally, Canada Pension Plan Investment Board raised its stake in Range Resources by 1,102.7% in the first quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company’s stock valued at $4,609,000 after purchasing an additional 139,096 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

NYSE RRC opened at $32.39 on Friday. Range Resources Co. has a 12-month low of $22.61 and a 12-month high of $35.45. The company has a market cap of $7.79 billion, a P/E ratio of 4.71, a PEG ratio of 0.57 and a beta of 2.12. The company has a fifty day simple moving average of $30.62 and a 200 day simple moving average of $27.91. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $567.67 million. Range Resources had a net margin of 37.22% and a return on equity of 31.85%. The firm’s revenue for the quarter was down 48.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. Sell-side analysts predict that Range Resources Co. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RRC. Wells Fargo & Company boosted their target price on shares of Range Resources from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Truist Financial decreased their price target on Range Resources from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Monday, July 24th. Morgan Stanley reaffirmed an “underweight” rating and issued a $20.00 price objective on shares of Range Resources in a research note on Wednesday, July 19th. Susquehanna boosted their target price on Range Resources from $35.00 to $36.00 in a research note on Wednesday, July 26th. Finally, Benchmark raised their price target on shares of Range Resources from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Range Resources has an average rating of “Hold” and an average target price of $34.05.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 1,950 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $26.80, for a total value of $52,260.00. Following the completion of the sale, the director now owns 16,713 shares in the company, valued at $447,908.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.

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. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.