Tidal Investments LLC Sells 4,071 Shares of Range Resources Co. (NYSE:RRC)

Tidal Investments LLC cut its holdings in shares of Range Resources Co. (NYSE:RRC) by 20.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,766 shares of the oil and gas exploration company’s stock after selling 4,071 shares during the period. Tidal Investments LLC’s holdings in Range Resources were worth $485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Range Resources during the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its position in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new stake in Range Resources during the third quarter worth $49,000. Fifth Third Bancorp grew its holdings in Range Resources by 21.2% during the second 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 in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Range Resources during the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on RRC. Piper Sandler reduced their target price on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Mizuho lifted their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Morgan Stanley reduced their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Finally, Citigroup increased their price target on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

Range Resources Stock Up 0.1 %

Shares of NYSE RRC opened at $33.18 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market cap of $8.01 billion, a P/E ratio of 16.76 and a beta of 1.85. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The business has a 50-day simple moving average of $33.14 and a two-hundred day simple moving average of $32.30.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the prior year, the company posted $0.43 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate that Range Resources Co. will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Insider Activity

In other news, Director Charles G. Griffie purchased 1,275 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. This represents a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.57% of the company’s stock.

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.