Baird Financial Group Inc. reduced its position in Range Resources Co. (NYSE:RRC – Get Rating) by 14.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,974 shares of the oil and gas exploration company’s stock after selling 1,752 shares during the quarter. Baird Financial Group Inc.’s holdings in Range Resources were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in RRC. CWM LLC lifted its stake in shares of Range Resources by 64.9% in the 2nd quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock valued at $30,000 after purchasing an additional 470 shares during the period. Quent Capital LLC acquired a new position in shares of Range Resources in the 1st quarter valued at $37,000. Exchange Traded Concepts LLC raised its position in Range Resources by 34.3% during the second quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock worth $49,000 after acquiring an additional 509 shares during the period. Van ECK Associates Corp acquired a new position in Range Resources during the first quarter worth $84,000. Finally, Islay Capital Management LLC acquired a new position in Range Resources during the second quarter worth $89,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “sell” rating in a research report on Monday, August 22nd. Truist Financial upped their price objective on shares of Range Resources to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Susquehanna upgraded shares of Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 price objective for the company in a research report on Wednesday, October 26th. Citigroup upped their target price on shares of Range Resources from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, September 21st. Finally, StockNews.com began coverage on shares of Range Resources in a report on Wednesday, October 12th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $35.88.
Insider Transactions at Range Resources
Range Resources Trading Down 1.5 %
Shares of RRC stock opened at $29.77 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $7.19 billion, a PE ratio of 6.11, a price-to-earnings-growth ratio of 0.20 and a beta of 2.12. The company has a 50-day moving average of $27.77 and a two-hundred day moving average of $29.60. Range Resources Co. has a 1-year low of $16.71 and a 1-year high of $37.44.
Range Resources (NYSE:RRC – Get Rating) last announced its earnings results on Tuesday, October 25th. The oil and gas exploration company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.02). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Range Resources had a return on equity of 60.30% and a net margin of 30.87%. The company’s quarterly revenue was up 267.0% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. On average, analysts predict that Range Resources Co. will post 4.99 EPS for the current year.
Range Resources Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, September 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.02. Range Resources’s dividend payout ratio (DPR) is 6.57%.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
- Get a free copy of the StockNews.com research report on Range Resources (RRC)
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