Thrivent Financial for Lutherans Sells 1,848 Shares of Range Resources Co. (NYSE:RRC)

Thrivent Financial for Lutherans reduced its stake in Range Resources Co. (NYSE:RRC) by 3.1% during the second quarter, HoldingsChannel.com reports. The firm owned 58,623 shares of the oil and gas exploration company’s stock after selling 1,848 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Range Resources were worth $1,966,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after purchasing an additional 5,759,883 shares in the last quarter. Vanguard Group Inc. raised its holdings in Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares during the last quarter. Boston Partners raised its holdings in Range Resources by 2.1% in the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after acquiring an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP raised its holdings in Range Resources by 1.5% in the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after acquiring an additional 93,782 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Range Resources in the 2nd quarter worth approximately $78,223,000. 98.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 completion of the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Range Resources in a report on Wednesday, July 24th. Susquehanna decreased their price objective on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. UBS Group decreased 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. Royal Bank of Canada reiterated 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, Morgan Stanley decreased their target price on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.74.

Range Resources Trading Up 0.4 %

NYSE:RRC opened at $30.88 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 15.68 and a beta of 1.80. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The business has a fifty day moving average price of $30.01 and a 200-day moving average price of $33.41.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The company 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%. Range Resources’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Sell-side analysts forecast that Range Resources Co. will post 1.87 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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend 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.