American Century Companies Inc. Lowers Stock Position in Range Resources Co. (NYSE:RRC)

American Century Companies Inc. reduced its position in shares of Range Resources Co. (NYSE:RRC) by 53.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 343,017 shares of the oil and gas exploration company’s stock after selling 401,698 shares during the period. American Century Companies Inc. owned 0.14% of Range Resources worth $11,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RRC. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the last quarter. SYSTM Wealth Solutions LLC raised its position in Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after acquiring an additional 325 shares during the period. CIBC Asset Management Inc boosted its stake in Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after acquiring an additional 350 shares during the last quarter. Orser Capital Management LLC grew its position in shares of Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after acquiring an additional 427 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Range Resources by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 3,529 shares of the oil and gas exploration company’s stock worth $118,000 after purchasing an additional 608 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Susquehanna dropped their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley dropped their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. The Goldman Sachs Group dropped their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Jefferies Financial Group lifted their target price on shares of Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.10.

Range Resources Stock Performance

Range Resources stock opened at $30.61 on Monday. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The firm’s fifty day moving average price is $30.40 and its 200-day moving average price is $33.50. The stock has a market cap of $7.43 billion, a P/E 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 issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, equities research analysts expect that Range Resources Co. will post 2.07 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared 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. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, September 13th. Range Resources’s payout ratio is currently 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.