Range Resources Co. (NYSE:RRC) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC trimmed its holdings in Range Resources Co. (NYSE:RRC) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 149,365 shares of the oil and gas exploration company’s stock after selling 3,233 shares during the period. Lmcg Investments LLC owned approximately 0.06% of Range Resources worth $5,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RRC. KGH Ltd grew its holdings in shares of Range Resources by 3.2% during the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after purchasing an additional 190,000 shares during the period. Geode Capital Management LLC increased its position in shares of Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock valued at $123,174,000 after acquiring an additional 35,344 shares during the last quarter. Canoe Financial LP raised its stake in shares of Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after acquiring an additional 251,200 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after acquiring an additional 92,217 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after purchasing an additional 604,199 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Activity

In related news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Range Resources Stock Down 0.5 %

Range Resources stock opened at $41.09 on Tuesday. The stock has a 50-day simple moving average of $35.75 and a 200-day simple moving average of $32.62. The company has a market capitalization of $9.91 billion, a P/E ratio of 20.75 and a beta of 1.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.65.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 EPS. Equities research analysts expect that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. Range Resources’s dividend payout ratio is presently 16.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RRC. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and boosted their target price for the company from $28.00 to $35.00 in a research report on Monday, December 9th. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a research report on Friday. Mizuho lifted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Stephens increased their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler dropped their price target on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.16.

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.