Amalgamated Bank Lowers Holdings in Range Resources Co. (NYSE:RRC)

Amalgamated Bank trimmed its stake in shares of Range Resources Co. (NYSE:RRC) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,183 shares of the oil and gas exploration company’s stock after selling 12,159 shares during the period. Amalgamated Bank’s holdings in Range Resources were worth $5,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Lingotto Investment Management LLP increased its holdings in Range Resources by 1.5% in the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after buying an additional 93,782 shares in the last quarter. Pekin Hardy Strauss Inc. grew its holdings in Range Resources by 6.0% in the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock valued at $357,000 after purchasing an additional 600 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Range Resources by 10.2% in the second quarter. Envestnet Asset Management Inc. now owns 96,719 shares of the oil and gas exploration company’s stock valued at $3,243,000 after buying an additional 8,969 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Range Resources during the 2nd quarter valued at approximately $78,223,000. Finally, Hardin Capital Partners LLC acquired a new stake in shares of Range Resources in the second quarter valued at about $314,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Up 0.3 %

NYSE RRC opened at $30.61 on Friday. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The firm has a 50 day simple moving average of $30.49 and a 200-day simple moving average of $33.50. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last posted its quarterly earnings results 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 business had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Equities research analysts anticipate that Range Resources Co. will post 2.07 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RRC shares. Mizuho decreased their price target on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Susquehanna dropped their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. UBS Group decreased their price objective on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Wednesday. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price for the company in a report on Tuesday, August 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.10.

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.