Range Resources Co. (NYSE:RRC) Shares Sold by Shelton Capital Management

Shelton Capital Management lessened its stake in shares of Range Resources Co. (NYSE:RRC) by 2.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,912 shares of the oil and gas exploration company’s stock after selling 351 shares during the period. Shelton Capital Management’s holdings in Range Resources were worth $350,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kestra Private Wealth Services LLC lifted its holdings in shares of Range Resources by 2.8% during the second quarter. Kestra Private Wealth Services LLC now owns 11,887 shares of the oil and gas exploration company’s stock valued at $349,000 after purchasing an additional 328 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Range Resources by 3.0% in the second quarter. US Bancorp DE now owns 12,946 shares of the oil and gas exploration company’s stock worth $381,000 after buying an additional 376 shares during the period. Quadrant Capital Group LLC increased its position in shares of Range Resources by 17.7% in the second quarter. Quadrant Capital Group LLC now owns 3,589 shares of the oil and gas exploration company’s stock worth $106,000 after acquiring an additional 541 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Range Resources by 37.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,564 shares of the oil and gas exploration company’s stock valued at $68,000 after acquiring an additional 700 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Range Resources by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 41,476 shares of the oil and gas exploration company’s stock valued at $1,219,000 after acquiring an additional 897 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Transactions at Range Resources

In other news, SVP Dori Ginn sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $37.35, for a total value of $933,750.00. Following the sale, the senior vice president now owns 85,804 shares in the company, valued at $3,204,779.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

RRC has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Range Resources from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Benchmark increased their price objective on Range Resources from $32.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. Royal Bank of Canada lifted their target price on Range Resources from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Raymond James upgraded shares of Range Resources from a “market perform” rating to an “outperform” rating and set a $41.00 price target for the company in a report on Tuesday, October 24th. Finally, StockNews.com lowered shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Sunday, October 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus target price of $36.26.

Range Resources Price Performance

NYSE RRC opened at $33.47 on Tuesday. Range Resources Co. has a 1 year low of $22.61 and a 1 year high of $37.88. The company has a fifty day simple moving average of $33.46 and a 200 day simple moving average of $31.04. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The company has a market cap of $8.08 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.59 and a beta of 2.09.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.16. The firm had revenue of $648.77 million during the quarter, compared to analyst estimates of $619.30 million. Range Resources had a net margin of 33.85% and a return on equity of 21.56%. On average, sell-side analysts predict that Range Resources Co. will post 2.01 EPS for the current year.

Range Resources Announces Dividend

The firm 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. This represents a $0.32 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, September 14th. Range Resources’s dividend payout ratio is currently 5.73%.

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 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.