Charles Schwab Investment Management Inc. Sells 59,091 Shares of Range Resources Corporation $RRC

Charles Schwab Investment Management Inc. decreased its stake in Range Resources Corporation (NYSE:RRC) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,092,159 shares of the oil and gas exploration company’s stock after selling 59,091 shares during the period. Charles Schwab Investment Management Inc. owned about 0.88% of Range Resources worth $85,088,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its holdings in shares of Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 703 shares during the last quarter. Barrett & Company Inc. purchased a new position in shares of Range Resources in the second quarter worth about $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Range Resources in the 2nd quarter valued at about $45,000. Allworth Financial LP lifted its stake in shares of Range Resources by 196.5% in the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 731 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Range Resources during the 2nd quarter valued at about $47,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RRC shares. Roth Capital cut Range Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Mizuho lifted their target price on shares of Range Resources from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley lowered their price target on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Finally, Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.85.

Range Resources Trading Up 2.7%

NYSE:RRC opened at $39.49 on Friday. The company has a 50-day moving average price of $37.51 and a 200-day moving average price of $37.34. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.39 and a beta of 0.49. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 12 month low of $30.32 and a 12 month high of $43.50.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The company had revenue of $655.30 million during the quarter, compared to the consensus estimate of $721.22 million. During the same period in the prior year, the firm earned $0.48 earnings per share. Range Resources’s revenue was up 21.7% on a year-over-year basis. Equities analysts predict that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 12th. Range Resources’s dividend payout ratio (DPR) is presently 15.13%.

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.