Shelton Capital Management lowered its position in shares of Range Resources Co. (NYSE:RRC – Free Report) by 2.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,912 shares of the oil and gas exploration company’s stock after selling 351 shares during the quarter. Shelton Capital Management’s holdings in Range Resources were worth $350,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Sagefield Capital LP boosted its holdings in shares of Range Resources by 152.7% in the first quarter. Sagefield Capital LP now owns 634,835 shares of the oil and gas exploration company’s stock valued at $16,804,000 after buying an additional 383,611 shares during the period. Van ECK Associates Corp increased its position in Range Resources by 1,097.2% during the second quarter. Van ECK Associates Corp now owns 40,203 shares of the oil and gas exploration company’s stock worth $1,182,000 after acquiring an additional 36,845 shares during the period. Strs Ohio raised its position in shares of Range Resources by 11.6% in the second quarter. Strs Ohio now owns 26,350 shares of the oil and gas exploration company’s stock valued at $774,000 after buying an additional 2,743 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Range Resources during the 1st quarter valued at $371,000. Finally, EA Series Trust bought a new stake in Range Resources during the second quarter worth about $6,220,000. Institutional investors own 94.73% of the company’s stock.
Analyst Ratings Changes
RRC has been the subject of several research analyst reports. Citigroup boosted their target price on Range Resources from $31.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Truist Financial upped their price target on shares of Range Resources from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, September 11th. Mizuho raised their price objective on shares of Range Resources from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Sanford C. Bernstein assumed coverage on Range Resources in a research note on Tuesday, October 10th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, Susquehanna boosted their target price on shares of Range Resources from $42.00 to $43.00 and gave the stock a “positive” rating in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.26.
Insider Transactions at Range Resources
In other news, SVP Dori Ginn sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $37.35, for a total value of $933,750.00. Following the transaction, the senior vice president now directly owns 85,804 shares in the company, valued at $3,204,779.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.57% of the company’s stock.
Range Resources Stock Performance
Shares of NYSE RRC opened at $33.47 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Range Resources Co. has a 12-month low of $22.61 and a 12-month high of $37.88. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 6.00, a price-to-earnings-growth ratio of 0.59 and a beta of 2.09. The firm has a 50 day moving average of $33.46 and a 200 day moving average of $31.04.
Range Resources (NYSE:RRC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. The business had revenue of $648.77 million during the quarter, compared to analysts’ expectations of $619.30 million. Range Resources had a return on equity of 21.56% and a net margin of 33.85%. On average, research analysts anticipate that Range Resources Co. will post 2.01 earnings per share for the current year.
Range Resources Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. Range Resources’s payout ratio is currently 5.73%.
About Range Resources
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. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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