Pictet Asset Management SA reduced its position in Range Resources Co. (NYSE:RRC – Get Rating) by 5.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,422 shares of the oil and gas exploration company’s stock after selling 978 shares during the quarter. Pictet Asset Management SA’s holdings in Range Resources were worth $406,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Gagnon Securities LLC increased its stake in Range Resources by 1.6% in the 2nd quarter. Gagnon Securities LLC now owns 22,837 shares of the oil and gas exploration company’s stock valued at $565,000 after buying an additional 367 shares during the period. CWM LLC increased its stake in 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 buying an additional 470 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Range Resources by 34.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock worth $49,000 after purchasing an additional 509 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Range Resources by 3.3% during the 1st quarter. Crossmark Global Holdings Inc. now owns 21,580 shares of the oil and gas exploration company’s stock worth $656,000 after purchasing an additional 680 shares during the period. Finally, Cetera Advisor Networks LLC grew its stake in shares of Range Resources by 1.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 55,313 shares of the oil and gas exploration company’s stock worth $1,680,000 after purchasing an additional 880 shares during the period. 84.31% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently weighed in on RRC. Susquehanna Bancshares raised shares of Range Resources to a “positive” rating and set a $38.00 price target on the stock in a research note on Wednesday, October 26th. Jefferies Financial Group began coverage on shares of Range Resources in a research note on Wednesday, October 19th. They set a “hold” rating and a $31.00 price target on the stock. Morgan Stanley lowered their price target on shares of Range Resources from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 19th. Citigroup upped their price target on shares of Range Resources from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 21st. Finally, Susquehanna raised shares of Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 price target on the stock in a research note on Wednesday, October 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.88.
Insider Transactions at Range Resources
Range Resources Price Performance
NYSE:RRC opened at $29.77 on Thursday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 0.20 and a beta of 2.12. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average is $27.77 and its two-hundred day moving average is $29.60. Range Resources Co. has a 12-month low of $16.71 and a 12-month high of $37.44.
Range Resources (NYSE:RRC – Get Rating) last released its earnings results on Tuesday, October 25th. The oil and gas exploration company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Range Resources had a net margin of 30.87% and a return on equity of 60.30%. Range Resources’s revenue for the quarter was up 267.0% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. Research analysts expect that Range Resources Co. will post 4.99 EPS for the current year.
Range Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.08 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.02. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Wednesday, September 14th. Range Resources’s dividend payout ratio is presently 6.57%.
Range Resources 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.
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