Russell Investments Group Ltd. Sells 74,605 Shares of Range Resources Co. (NYSE:RRC)

Russell Investments Group Ltd. lowered its position in Range Resources Co. (NYSE:RRC) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 456,015 shares of the oil and gas exploration company’s stock after selling 74,605 shares during the quarter. Russell Investments Group Ltd. owned 0.19% of Range Resources worth $13,881,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Range Resources by 90.2% in the 3rd quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock worth $257,000 after buying an additional 3,766 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Range Resources by 46.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 23,440 shares of the oil and gas exploration company’s stock worth $760,000 after buying an additional 7,405 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Range Resources by 78.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company’s stock worth $927,000 after buying an additional 12,617 shares in the last quarter. Foster & Motley Inc. raised its holdings in shares of Range Resources by 7.5% in the 3rd quarter. Foster & Motley Inc. now owns 12,965 shares of the oil and gas exploration company’s stock worth $420,000 after buying an additional 900 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Range Resources by 17.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,076 shares of the oil and gas exploration company’s stock worth $1,623,000 after buying an additional 7,509 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Up 2.1 %

NYSE:RRC opened at $35.71 on Friday. Range Resources Co. has a one year low of $23.92 and a one year high of $38.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The company’s 50-day simple moving average is $34.14 and its 200 day simple moving average is $32.45. The firm has a market capitalization of $8.66 billion, a P/E ratio of 18.13 and a beta of 1.85.

Range Resources (NYSE:RRC) last posted its quarterly earnings data 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 business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. Range Resources’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, analysts forecast that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio is presently 16.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler raised their price target on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group raised their price target on Range Resources from $32.00 to $34.00 and gave the company a “hold” rating in a report on Thursday. Raymond James dropped their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their target price for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Finally, StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, March 13th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.62.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.