Range Resources Co. (NYSE:RRC) Stock Position Cut by Bruni J V & Co. Co.

Bruni J V & Co. Co. reduced its stake in Range Resources Co. (NYSE:RRC) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 743,277 shares of the oil and gas exploration company’s stock after selling 141,994 shares during the period. Range Resources accounts for approximately 2.8% of Bruni J V & Co. Co.’s holdings, making the stock its 19th biggest position. Bruni J V & Co. Co. owned approximately 0.31% of Range Resources worth $22,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in Range Resources by 22.4% in the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after purchasing an additional 693,970 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Range Resources by 66.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock worth $47,416,000 after buying an additional 585,000 shares in the last quarter. Canoe Financial LP raised its holdings in shares of Range Resources by 86.5% during the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after acquiring an additional 554,400 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Range Resources by 56.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company’s stock worth $28,964,000 after buying an additional 343,541 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in Range Resources by 61.6% during the third quarter. Bank Pictet & Cie Europe AG now owns 838,600 shares of the oil and gas exploration company’s stock worth $27,179,000 after buying an additional 319,800 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Down 0.9 %

NYSE RRC traded down $0.34 on Friday, reaching $37.31. The company had a trading volume of 2,583,165 shares, compared to its average volume of 2,248,659. Range Resources Co. has a 52 week low of $23.92 and a 52 week high of $38.25. The stock’s 50 day moving average is $33.80 and its 200-day moving average is $32.41. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million for 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%. Range Resources’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Equities analysts predict that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is presently 16.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial reduced their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 5th. Morgan Stanley boosted their price objective on shares of Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Stephens boosted their price objective on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays started coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada downgraded shares of Range Resources from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $36.00 to $39.00 in a report on Friday. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.65.

Insider Activity

In related news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by company insiders.

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.