Guggenheim Capital LLC Sells 14,980 Shares of Range Resources Co. (NYSE:RRC)

Guggenheim Capital LLC decreased its position in Range Resources Co. (NYSE:RRC) by 19.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 63,526 shares of the oil and gas exploration company’s stock after selling 14,980 shares during the period. Guggenheim Capital LLC’s holdings in Range Resources were worth $1,682,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of RRC. Belpointe Asset Management LLC acquired a new position in shares of Range Resources during the 4th quarter worth approximately $40,000. Ameritas Advisory Services LLC acquired a new position in shares of Range Resources during the 1st quarter worth approximately $42,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources during the 1st quarter worth approximately $53,000. IFP Advisors Inc increased its holdings in shares of Range Resources by 35.6% during the 4th quarter. IFP Advisors Inc now owns 4,670 shares of the oil and gas exploration company’s stock worth $82,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Range Resources during the 1st quarter worth approximately $97,000. Institutional investors own 94.73% of the company’s stock.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 1,950 shares of the company’s 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 directly owns 16,713 shares of the company’s stock, valued at approximately $447,908.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by insiders.

Range Resources Stock Performance

Shares of RRC stock opened at $32.39 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $30.62 and a two-hundred day simple moving average of $27.91. The firm has a market capitalization of $7.79 billion, a PE ratio of 4.71, a price-to-earnings-growth ratio of 0.57 and a beta of 2.12. Range Resources Co. has a 12 month low of $22.61 and a 12 month high of $35.45.

Range Resources (NYSE:RRC) last posted its earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. The company had revenue of $637.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. Analysts forecast that Range Resources Co. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Susquehanna boosted their target price on Range Resources from $35.00 to $36.00 in a report on Wednesday, July 26th. Stifel Nicolaus boosted their price target on Range Resources from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 11th. The Goldman Sachs Group upgraded Range Resources from a “sell” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $31.00 in a research note on Wednesday, May 24th. Morgan Stanley reiterated an “underweight” rating and set a $20.00 target price on shares of Range Resources in a research report on Wednesday, July 19th. Finally, Truist Financial dropped their price objective on Range Resources from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Monday, July 24th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.05.

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.