Thrivent Financial for Lutherans Sells 1,848 Shares of Range Resources Co. (NYSE:RRC)

Thrivent Financial for Lutherans trimmed its position in shares of Range Resources Co. (NYSE:RRC) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,623 shares of the oil and gas exploration company’s stock after selling 1,848 shares during the period. Thrivent Financial for Lutherans’ holdings in Range Resources were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in RRC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Range Resources by 25.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after acquiring an additional 5,759,883 shares during the period. William Blair Investment Management LLC bought a new position in shares of Range Resources in the second quarter worth $78,223,000. Vanguard Group Inc. boosted its holdings in shares of Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares during the period. Herr Investment Group LLC boosted its holdings in shares of Range Resources by 4,594.4% in the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock worth $17,133,000 after acquiring an additional 487,011 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Range Resources by 26.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company’s stock worth $39,777,000 after acquiring an additional 246,172 shares during the period. 98.93% of the stock is owned by institutional investors.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RRC shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Jefferies Financial Group lifted their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Company raised Range Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $35.00 to $39.00 in a research note on Tuesday. Finally, Piper Sandler lowered Range Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $31.00 in a research note on Thursday, August 15th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.74.

Range Resources Stock Up 0.4 %

RRC opened at $30.88 on Wednesday. The company has a market cap of $7.49 billion, a P/E ratio of 15.68 and a beta of 1.80. The business’s 50-day moving average price is $30.01 and its 200-day moving average price is $33.41. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, equities analysts expect that Range Resources Co. will post 1.87 EPS for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. Range Resources’s dividend payout ratio is presently 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.