XTX Topco Ltd Cuts Stock Holdings in Range Resources Co. (NYSE:RRC)

XTX Topco Ltd reduced its stake in Range Resources Co. (NYSE:RRC) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,355 shares of the oil and gas exploration company’s stock after selling 1,977 shares during the quarter. XTX Topco Ltd’s holdings in Range Resources were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp raised its position in shares of Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares in the last quarter. Perkins Coie Trust Co purchased a new position in Range Resources in the second quarter worth $67,000. International Assets Investment Management LLC bought a new position in Range Resources in the second quarter valued at $67,000. SYSTM Wealth Solutions LLC raised its position in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Range Resources during the second quarter worth about $107,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Price Performance

Shares of RRC stock opened at $30.17 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $7.32 billion, a P/E ratio of 15.31 and a beta of 1.80. The business’s 50 day moving average price is $30.16 and its 200-day moving average price is $33.43. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. During the same period in the previous year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Range Resources Co. will post 1.87 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 yield of 1.06%. Range Resources’s payout ratio is 16.24%.

Analyst Ratings Changes

RRC has been the topic of several recent research reports. Piper Sandler lowered Range Resources from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Susquehanna reduced their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. UBS Group lowered their price objective on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. Wolfe Research started coverage on shares of Range Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.10.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.57% of the company’s stock.

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.