Fisher Asset Management LLC Sells 211,392 Shares of Range Resources Corporation $RRC

Fisher Asset Management LLC decreased its holdings in shares of Range Resources Corporation (NYSE:RRC) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 824,406 shares of the oil and gas exploration company’s stock after selling 211,392 shares during the quarter. Fisher Asset Management LLC owned about 0.35% of Range Resources worth $33,529,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its stake in shares of Range Resources by 1,464.6% in the second 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. acquired a new position in Range Resources during the 2nd quarter valued at $41,000. Allworth Financial LP raised its stake in Range Resources by 196.5% during 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 purchasing an additional 731 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Range Resources in the 2nd quarter valued at $45,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Range Resources in the 2nd quarter worth $47,000. 98.93% of the stock is owned by institutional investors.

Range Resources Price Performance

Range Resources stock opened at $38.11 on Wednesday. The business has a 50 day simple moving average of $37.64 and a 200 day simple moving average of $37.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.55. The company has a market capitalization of $9.03 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.39 and a beta of 0.49. Range Resources Corporation has a one year low of $30.32 and a one year high of $43.50.

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

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 12th. Range Resources’s dividend payout ratio (DPR) is currently 15.13%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Raymond James Financial reduced their target price on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, September 19th. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Roth Capital cut Range Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Citigroup cut their target price on Range Resources from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. Finally, Susquehanna decreased their price target on shares of Range Resources to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.85.

Range Resources Profile

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.