Vanguard Personalized Indexing Management LLC Buys 3,037 Shares of Range Resources Co. (NYSE:RRC)

Vanguard Personalized Indexing Management LLC raised its stake in Range Resources Co. (NYSE:RRC) by 9.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 35,568 shares of the oil and gas exploration company’s stock after acquiring an additional 3,037 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Range Resources were worth $1,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RRC. Fifth Third Bancorp boosted its holdings in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares during the last quarter. SYSTM Wealth Solutions LLC increased its position in shares of 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 worth $74,000 after buying an additional 325 shares during the period. CIBC Asset Management Inc raised its stake in Range Resources by 5.4% during the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after buying an additional 350 shares during the last quarter. Orser Capital Management LLC lifted its holdings in Range Resources by 0.8% in the first 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 buying an additional 427 shares during the period. Finally, Pekin Hardy Strauss Inc. boosted its position in Range Resources by 6.0% during 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 acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC opened at $30.61 on Monday. The stock has a 50 day moving average of $30.40 and a 200 day moving average of $33.50. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. During the same period in the previous year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Range Resources Co. will post 2.07 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research analyst reports. UBS Group cut their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley reduced their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Piper Sandler downgraded shares of Range Resources from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research note on Thursday, July 25th. Finally, Wells Fargo & Company decreased their price target on shares of Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.10.

About Range Resources

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.