SG Americas Securities LLC reduced its stake in shares of Range Resources Co. (NYSE:RRC – Free Report) by 88.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,174 shares of the oil and gas exploration company’s stock after selling 33,036 shares during the quarter. SG Americas Securities LLC’s holdings in Range Resources were worth $123,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Xponance Inc. raised its stake in Range Resources by 0.8% during the first quarter. Xponance Inc. now owns 47,247 shares of the oil and gas exploration company’s stock worth $1,251,000 after acquiring an additional 393 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in 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 worth $68,000 after acquiring an additional 700 shares in the last quarter. Belpointe Asset Management LLC raised its stake in Range Resources by 60.8% during the first quarter. Belpointe Asset Management LLC now owns 2,573 shares of the oil and gas exploration company’s stock worth $68,000 after acquiring an additional 973 shares in the last quarter. Orser Capital Management LLC increased its stake in shares of Range Resources by 1.8% in the first quarter. Orser Capital Management LLC now owns 57,901 shares of the oil and gas exploration company’s stock valued at $1,533,000 after buying an additional 1,005 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of Range Resources by 9.7% in the first quarter. Commonwealth Equity Services LLC now owns 13,579 shares of the oil and gas exploration company’s stock valued at $359,000 after buying an additional 1,205 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on RRC shares. Mizuho raised their target price on Range Resources from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Stephens reiterated an “overweight” rating and issued a $34.00 price objective on shares of Range Resources in a research report on Tuesday, July 25th. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, September 13th. Bank of America lifted their price objective on Range Resources from $44.00 to $47.00 in a research report on Wednesday, September 27th. Finally, Morgan Stanley lifted their price objective on Range Resources from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.00.
Range Resources Trading Down 2.7 %
NYSE:RRC opened at $30.18 on Thursday. The stock has a market capitalization of $7.26 billion, a PE ratio of 4.39, a price-to-earnings-growth ratio of 0.55 and a beta of 2.09. The business’s 50-day simple moving average is $31.90 and its 200-day simple moving average is $28.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.86 and a quick ratio of 0.86. Range Resources Co. has a fifty-two week low of $22.61 and a fifty-two week high of $34.54.
Range Resources (NYSE:RRC – Get Free Report) last released its earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. The firm had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $567.67 million. Range Resources had a return on equity of 31.85% and a net margin of 37.22%. The business’s quarterly revenue was down 48.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. Sell-side analysts expect that Range Resources Co. will post 1.95 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, September 29th. Shareholders of record on Friday, September 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources’s payout ratio is 4.66%.
About Range Resources
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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