Range Resources Co. (NYSE:RRC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Range Resources Co. (NYSE:RRC) by 14.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 456,015 shares of the oil and gas exploration company’s stock after selling 74,605 shares during the period. Russell Investments Group Ltd.’s holdings in Range Resources were worth $13,881,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after acquiring an additional 693,970 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Range Resources by 66.6% in the third quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock valued at $47,416,000 after buying an additional 585,000 shares during the last quarter. Canoe Financial LP raised its position in shares of Range Resources by 86.5% in the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock valued at $38,743,000 after buying an additional 554,400 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Range Resources by 56.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company’s stock valued at $28,964,000 after buying an additional 343,541 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Range Resources by 61.6% in the third quarter. Bank Pictet & Cie Europe AG now owns 838,600 shares of the oil and gas exploration company’s stock valued at $27,179,000 after buying an additional 319,800 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Piper Sandler increased their target price on shares of Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley increased their target price on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Royal Bank of Canada lowered shares of Range Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $36.00 to $39.00 in a report on Friday, April 26th. Finally, Stephens upped their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.62.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

Range Resources Stock Performance

NYSE:RRC opened at $35.71 on Friday. The firm’s fifty day moving average price is $34.14 and its 200 day moving average price is $32.45. Range Resources Co. has a 1-year low of $23.92 and a 1-year high of $38.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 18.13 and a beta of 1.85.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same period last year, the firm posted $0.96 EPS. Range Resources’s quarterly revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts expect that Range Resources Co. will post 2 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.