Range Resources Co. (NYSE:RRC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its position in Range Resources Co. (NYSE:RRC) by 28.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,025 shares of the oil and gas exploration company’s stock after selling 8,564 shares during the quarter. AQR Capital Management LLC’s holdings in Range Resources were worth $737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp grew 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 during the last quarter. Perkins Coie Trust Co acquired a new stake in Range Resources during the second quarter valued at approximately $67,000. International Assets Investment Management LLC acquired a new stake in Range Resources during the second quarter valued at approximately $67,000. nVerses Capital LLC purchased a new stake in shares of Range Resources in the 2nd quarter valued at approximately $107,000. Finally, ORG Partners LLC purchased a new stake in shares of Range Resources in the 2nd quarter valued at approximately $110,000. Institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research reports. Piper Sandler lowered shares of Range Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $31.00 in a research note on Thursday, August 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price objective on shares of Range Resources in a report on Thursday, July 25th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. Wolfe Research started coverage on shares of Range Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Mizuho lowered their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.41.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Range Resources Stock Up 0.8 %

Range Resources stock opened at $31.42 on Monday. The company’s 50 day simple moving average is $30.10 and its 200 day simple moving average is $33.33. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share 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 firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. Range Resources’s payout ratio is 16.24%.

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.