Aperio Group LLC Sells 33,005 Shares of Range Resources Co. (NYSE:RRC)

Aperio Group LLC cut its holdings in shares of Range Resources Co. (NYSE:RRC) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 838,222 shares of the oil and gas exploration company’s stock after selling 33,005 shares during the period. Aperio Group LLC owned 0.33% of Range Resources worth $5,549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC bought a new position in shares of Range Resources during the third quarter valued at approximately $30,000. Private Advisor Group LLC acquired a new stake in Range Resources in the second quarter valued at approximately $31,000. Macquarie Group Ltd. acquired a new stake in Range Resources in the second quarter valued at approximately $49,000. Cullen Frost Bankers Inc. boosted its stake in Range Resources by 700.9% in the third quarter. Cullen Frost Bankers Inc. now owns 8,153 shares of the oil and gas exploration company’s stock valued at $54,000 after acquiring an additional 7,135 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Range Resources in the second quarter valued at approximately $58,000.

Shares of Range Resources stock opened at $7.16 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a fifty day moving average price of $7.48 and a 200 day moving average price of $6.95. Range Resources Co. has a 1 year low of $1.61 and a 1 year high of $9.41. The stock has a market cap of $1.84 billion, a PE ratio of -0.97 and a beta of 2.78.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Thursday, October 29th. The oil and gas exploration company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Range Resources had a negative net margin of 79.81% and a negative return on equity of 0.43%. The firm had revenue of $299.35 million during the quarter, compared to analysts’ expectations of $511.83 million. During the same period in the previous year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was down 51.9% on a year-over-year basis. As a group, equities analysts expect that Range Resources Co. will post -0.06 EPS for the current year.

RRC has been the subject of several recent analyst reports. Stephens upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating and set a $10.00 target price for the company in a research note on Monday, November 16th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group downgraded shares of Range Resources from a “neutral” rating to a “sell” rating and raised their target price for the company from $5.50 to $6.00 in a research note on Thursday, September 24th. Morgan Stanley lowered their target price on shares of Range Resources from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, November 17th. Finally, Piper Sandler lifted their price objective on shares of Range Resources from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.32.

Range Resources Company Profile

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 holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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