Range Resources Co. (NYSE:RRC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in shares of Range Resources Co. (NYSE:RRCFree Report) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,058 shares of the oil and gas exploration company’s stock after selling 3,783 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Range Resources were worth $2,163,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. acquired a new stake in shares of Range Resources during the third quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Range Resources in the third quarter valued at $27,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 666 shares during the period. Headlands Technologies LLC acquired a new stake in Range Resources in the third quarter valued at $49,000. Finally, Covestor Ltd lifted its holdings in Range Resources by 152.0% in the third quarter. Covestor Ltd now owns 1,550 shares of the oil and gas exploration company’s stock valued at $50,000 after acquiring an additional 935 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on RRC. Piper Sandler raised their target price on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, March 13th. Mizuho raised their target price on Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, May 13th. Morgan Stanley raised their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group lifted their price target on Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Five analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Range Resources currently has an average rating of “Hold” and an average price target of $37.10.

Read Our Latest Research Report on Range Resources

Range Resources Trading Down 0.2 %

Range Resources stock opened at $36.30 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.81 billion, a PE ratio of 18.43 and a beta of 1.81. The stock has a 50-day moving average price of $36.22 and a 200 day moving average price of $32.82. Range Resources Co. has a 52 week low of $25.89 and a 52 week high of $39.33.

Range Resources (NYSE:RRCGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Equities research analysts predict that Range Resources Co. will post 1.99 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, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, June 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the sale, the director now owns 15,253 shares in the company, valued at approximately $589,986.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the sale, the director now owns 15,253 shares in the company, valued at approximately $589,986.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles G. Griffie bought 1,500 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $34.65 per share, with a total value of $51,975.00. Following the acquisition, the director now directly owns 4,646 shares in the company, valued at approximately $160,983.90. The disclosure for this purchase can be found here. Insiders sold 197,107 shares of company stock worth $7,379,095 in the last 90 days. 1.57% of the stock is owned by company insiders.

Range Resources Profile

(Free Report)

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.

Further Reading

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

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