Vanguard Group Inc. Has $716.30 Million Stock Position in Range Resources Co. (NYSE:RRC)

Vanguard Group Inc. lowered its position in shares of Range Resources Co. (NYSE:RRC) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,531,628 shares of the oil and gas exploration company’s stock after selling 90,778 shares during the quarter. Vanguard Group Inc. owned approximately 9.72% of Range Resources worth $716,303,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Boston Partners lifted its position in Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after purchasing an additional 6,070,900 shares during the period. Invesco Ltd. lifted its holdings in Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after buying an additional 693,970 shares during the period. Canoe Financial LP boosted its stake in Range Resources by 42.5% in the fourth quarter. Canoe Financial LP now owns 1,702,900 shares of the oil and gas exploration company’s stock valued at $51,836,000 after acquiring an additional 507,500 shares during the last quarter. TD Asset Management Inc grew its holdings in Range Resources by 177.7% during the 4th quarter. TD Asset Management Inc now owns 692,722 shares of the oil and gas exploration company’s stock worth $21,086,000 after acquiring an additional 443,298 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Range Resources by 56.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company’s stock valued at $28,964,000 after acquiring an additional 343,541 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles G. Griffie acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $34.65 per share, with a total value of $51,975.00. Following the transaction, the director now directly owns 4,646 shares in the company, valued at approximately $160,983.90. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Charles G. Griffie bought 1,500 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $34.65 per share, with a total value of $51,975.00. Following the acquisition, the director now owns 4,646 shares in the company, valued at $160,983.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,107 shares of company stock worth $7,379,095. Insiders own 1.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RRC. Piper Sandler upped their price objective on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Jefferies Financial Group increased their price target on shares of Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Benchmark restated a “hold” rating on shares of Range Resources in a report on Wednesday, April 24th. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. Finally, Royal Bank of Canada cut shares of Range Resources from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $36.00 to $39.00 in a research report on Friday, April 26th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.10.

Range Resources Stock Down 1.7 %

Range Resources stock opened at $33.47 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. Range Resources Co. has a 1-year low of $27.52 and a 1-year high of $39.33. The company has a fifty day simple moving average of $36.20 and a 200 day simple moving average of $33.01. The company has a market cap of $8.12 billion, a P/E ratio of 16.99 and a beta of 1.81.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the company earned $0.96 EPS. Range Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. Research analysts anticipate that Range Resources Co. will post 2.11 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.96%. Range Resources’s dividend payout ratio is presently 16.24%.

Range Resources Company 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.