Range Resources Co. (NYSE:RRC) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its position in Range Resources Co. (NYSE:RRC) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,250 shares of the oil and gas exploration company’s stock after selling 14,984 shares during the period. Kennedy Capital Management LLC owned 0.08% of Range Resources worth $6,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Energy Income Partners LLC increased its holdings in shares of Range Resources by 33.5% in the first quarter. Energy Income Partners LLC now owns 138,787 shares of the oil and gas exploration company’s stock valued at $4,778,000 after purchasing an additional 34,850 shares during the period. Price T Rowe Associates Inc. MD raised its position in Range Resources by 25.2% during 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 buying an additional 5,759,883 shares during the last quarter. Natixis acquired a new stake in Range Resources during the 1st quarter valued at approximately $1,171,000. Herr Investment Group LLC lifted its stake in Range Resources by 4,594.4% during the 1st quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after acquiring an additional 487,011 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Range Resources by 0.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 138,482 shares of the oil and gas exploration company’s stock valued at $4,770,000 after purchasing an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 1.0 %

NYSE:RRC traded up $0.30 on Wednesday, hitting $31.69. The stock had a trading volume of 142,459 shares, compared to its average volume of 2,462,663. The company has a fifty day moving average price of $34.60 and a two-hundred day moving average price of $33.62. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 15.94 and a beta of 1.87. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1-year low of $27.60 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 earnings per share. Equities research analysts expect that Range Resources Co. will post 2.06 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s payout ratio is 16.24%.

Insider Activity at Range Resources

In other Range Resources news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Charles G. Griffie bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $34.65 per share, with a total value of $51,975.00. Following the purchase, the director now owns 4,646 shares in the company, valued at $160,983.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the director now owns 15,253 shares of the company’s stock, valued at $589,986.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,129 shares of company stock worth $6,775,926. Company insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RRC shares. Truist Financial decreased their price objective on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Jefferies Financial Group raised their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 8th. Wells Fargo & Company reduced their target price on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday, July 25th. Finally, Wolfe Research assumed coverage on shares of Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Range Resources currently has an average rating of “Hold” and an average price target of $37.30.

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.