Swiss National Bank increased its stake in shares of Range Resources Co. (NYSE:RRC – Free Report) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 526,200 shares of the oil and gas exploration company’s stock after acquiring an additional 4,600 shares during the quarter. Swiss National Bank’s holdings in Range Resources were worth $15,470,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of RRC. Kestra Private Wealth Services LLC increased its holdings in Range Resources by 2.8% in the 2nd 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 buying an additional 328 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Range Resources by 37.6% in the 1st 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 buying an additional 700 shares during the period. Victory Capital Management Inc. increased its holdings in 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 buying an additional 897 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Range Resources by 6.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,035 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 947 shares during the period. Finally, Belpointe Asset Management LLC increased its holdings in Range Resources by 60.8% in the 1st quarter. Belpointe Asset Management LLC now owns 2,573 shares of the oil and gas exploration company’s stock valued at $68,000 after buying an additional 973 shares during the period. Institutional investors own 94.73% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on RRC shares. Sanford C. Bernstein started coverage on shares of Range Resources in a report on Tuesday, October 10th. They issued a “market perform” rating and a $32.00 price target on the stock. Mizuho boosted their price target on shares of Range Resources from $40.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Stifel Nicolaus reduced their target price on shares of Range Resources from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday. Siebert Williams Shank downgraded shares of Range Resources from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a research note on Monday, August 14th. Finally, Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.26.
Range Resources Stock Down 0.7 %
Shares of NYSE RRC opened at $33.47 on Tuesday. The firm’s 50-day simple moving average is $33.46 and its 200 day simple moving average is $31.04. The company has a market cap 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 company has a quick ratio of 0.93, a current 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.
Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.16. The firm 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 expect that Range Resources Co. will post 2.01 earnings per share for the current fiscal year.
Range Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.32 annualized dividend and a yield of 0.96%. Range Resources’s dividend payout ratio is currently 5.73%.
Insiders Place Their Bets
In other Range Resources 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 transaction of $933,750.00. Following the completion of the sale, the senior vice president now directly owns 85,804 shares of the company’s stock, valued at approximately $3,204,779.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.57% of the company’s stock.
Range Resources 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.
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