Range Resources Corporation $RRC Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT cut its position in Range Resources Corporation (NYSE:RRC) by 97.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,423 shares of the oil and gas exploration company’s stock after selling 311,351 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Range Resources were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Range Resources during the 4th quarter worth $34,000. Root Financial Partners LLC increased its holdings in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 276 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources in the fourth quarter valued at $57,000. Basepoint Wealth LLC acquired a new stake in Range Resources in the fourth quarter valued at $61,000. Finally, International Assets Investment Management LLC acquired a new stake in Range Resources in the fourth quarter valued at $71,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on RRC. Stephens lifted their price target on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Truist Financial decreased their target price on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Finally, Bank of America upped their price target on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.35.

Range Resources Price Performance

Shares of NYSE:RRC opened at $38.29 on Wednesday. The company’s fifty day moving average price is $38.05 and its 200 day moving average price is $39.51. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $8.95 billion, a P/E ratio of 10.58 and a beta of 0.41.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. During the same period in the previous year, the company earned $0.66 earnings per share. Range Resources’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s payout ratio is 11.05%.

Range Resources Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.