Energy Income Partners LLC Cuts Stock Holdings in Range Resources Corporation $RRC

Energy Income Partners LLC lessened its holdings in Range Resources Corporation (NYSE:RRC) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,139 shares of the oil and gas exploration company’s stock after selling 29,538 shares during the quarter. Energy Income Partners LLC owned 0.05% of Range Resources worth $4,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Range Resources by 4.7% during the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after buying an additional 270 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Range Resources by 0.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock worth $2,981,000 after acquiring an additional 299 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Range Resources by 3.1% in the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after acquiring an additional 315 shares during the period. Evergreen Capital Management LLC increased its stake in Range Resources by 4.8% in the 1st quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company’s stock valued at $308,000 after purchasing an additional 351 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its stake in Range Resources by 1.1% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 37,838 shares of the oil and gas exploration company’s stock valued at $1,539,000 after purchasing an additional 406 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of research analyst reports. Citigroup decreased their target price on Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Raymond James Financial decreased their price objective on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. UBS Group raised their target price on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Piper Sandler cut their target price on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $39.00 price target (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.95.

Range Resources Price Performance

Range Resources stock opened at $36.47 on Friday. The stock has a market capitalization of $8.64 billion, a P/E ratio of 15.32, a P/E/G ratio of 0.28 and a beta of 0.47. Range Resources Corporation has a 12-month low of $30.32 and a 12-month high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50-day moving average is $37.66 and its two-hundred day moving average is $37.24.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The business had revenue of $655.30 million for the quarter, compared to the consensus estimate of $721.22 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s payout ratio is currently 15.13%.

Range Resources Profile

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.