Range Resources Co. (NYSE:RRC) Stock Position Boosted by Congress Asset Management Co. MA

Congress Asset Management Co. MA grew its stake in shares of Range Resources Co. (NYSE:RRCFree Report) by 7.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 390,765 shares of the oil and gas exploration company’s stock after acquiring an additional 27,579 shares during the period. Congress Asset Management Co. MA’s holdings in Range Resources were worth $11,895,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Range Resources by 47.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,715 shares of the oil and gas exploration company’s stock valued at $445,000 after buying an additional 4,389 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Range Resources by 80.9% in the 3rd quarter. Deutsche Bank AG now owns 23,155 shares of the oil and gas exploration company’s stock worth $750,000 after purchasing an additional 10,357 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Range Resources by 6.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 28,842 shares of the oil and gas exploration company’s stock worth $935,000 after purchasing an additional 1,803 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Range Resources during the third quarter valued at approximately $69,000. Finally, Aviva PLC boosted its holdings in Range Resources by 70.2% during the third quarter. Aviva PLC now owns 50,159 shares of the oil and gas exploration company’s stock worth $1,626,000 after buying an additional 20,690 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RRC shares. Truist Financial dropped their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Wednesday, April 24th. Jefferies Financial Group lifted their price target on Range Resources from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Mizuho boosted their price objective on Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Morgan Stanley lifted their target price on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.10.

View Our Latest Stock Report on RRC

Range Resources Stock Down 3.0 %

Shares of Range Resources stock opened at $35.25 on Monday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 17.89 and a beta of 1.81. The stock has a 50-day simple moving average of $36.40 and a 200-day simple moving average of $32.94. Range Resources Co. has a 52-week low of $26.29 and a 52-week high of $39.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35.

Range Resources (NYSE:RRCGet Free Report) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, equities research analysts expect that Range Resources Co. will post 2.11 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, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.91%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity

In related news, CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $37.78, for a total value of $3,815,780.00. Following the completion of the sale, the chief executive officer now directly owns 198,154 shares in the company, valued at approximately $7,486,258.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Range Resources news, CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the completion of the transaction, the chief executive officer now owns 198,154 shares of the company’s stock, valued at approximately $7,486,258.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reginal Spiller sold 1,460 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the sale, the director now directly owns 15,253 shares in the company, valued at $589,986.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,107 shares of company stock valued at $7,379,095. Insiders own 2.50% of the company’s stock.

Range Resources Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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