Brandywine Global Investment Management LLC trimmed its position in Range Resources Co. (NYSE:RRC – Free Report) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,868 shares of the oil and gas exploration company’s stock after selling 9,298 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.06% of Range Resources worth $3,941,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Xponance Inc. boosted its stake in Range Resources by 0.8% in the first quarter. Xponance Inc. now owns 47,247 shares of the oil and gas exploration company’s stock valued at $1,251,000 after acquiring an additional 393 shares in the last quarter. FDx Advisors Inc. boosted its stake in Range Resources by 4.1% in the fourth quarter. FDx Advisors Inc. now owns 10,921 shares of the oil and gas exploration company’s stock valued at $273,000 after acquiring an additional 433 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Range Resources by 37.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,564 shares of the oil and gas exploration company’s stock valued at $68,000 after acquiring an additional 700 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in Range Resources by 60.8% in the first quarter. Belpointe Asset Management LLC now owns 2,573 shares of the oil and gas exploration company’s stock valued at $68,000 after acquiring an additional 973 shares in the last quarter. Finally, Orser Capital Management LLC lifted its stake in shares of Range Resources by 1.8% during the first quarter. Orser Capital Management LLC now owns 57,901 shares of the oil and gas exploration company’s stock worth $1,533,000 after buying an additional 1,005 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on RRC. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday. Stephens reiterated an “overweight” rating and set a $34.00 price objective on shares of Range Resources in a research note on Tuesday, July 25th. Siebert Williams Shank downgraded shares of Range Resources from a “buy” rating to a “hold” rating and set a $38.00 price objective for the company. in a research note on Monday, August 14th. UBS Group lifted their price objective on shares of Range Resources from $24.00 to $28.00 and gave the stock a “sell” rating in a research note on Thursday, August 17th. Finally, Mizuho raised their target price on shares of Range Resources from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.33.
Range Resources Stock Down 3.7 %
RRC stock opened at $32.03 on Friday. The stock has a market capitalization of $7.71 billion, a P/E ratio of 4.66, a P/E/G ratio of 0.60 and a beta of 2.12. The firm has a 50-day simple moving average of $31.54 and a 200-day simple moving average of $28.52. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.52. Range Resources Co. has a 52 week low of $22.61 and a 52 week high of $34.54.
Range Resources (NYSE:RRC – Get Free Report) last released its earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $637.00 million during 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 company’s quarterly revenue was down 48.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. Equities analysts forecast that Range Resources Co. will post 1.94 earnings per share for the current fiscal year.
Range Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. Range Resources’s payout ratio is presently 4.66%.
About Range Resources
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.
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