Amundi Trims Stake in Range Resources Corporation $RRC

Amundi lessened its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 57.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 505,232 shares of the oil and gas exploration company's stock after selling 675,681 shares during the quarter. Amundi owned approximately 0.21% of Range Resources worth $19,234,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RRC. Bessemer Group Inc. grew its holdings in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after purchasing an additional 315 shares during the last quarter. Xponance Inc. grew its holdings in shares of Range Resources by 1.2% during the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock worth $1,099,000 after purchasing an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Range Resources by 0.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company's stock worth $2,636,000 after purchasing an additional 328 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Range Resources by 4.8% during the first quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company's stock worth $308,000 after purchasing an additional 351 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Range Resources by 20.6% during the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Stock Performance

NYSE:RRC traded up $0.51 during mid-day trading on Wednesday, reaching $34.81. The stock had a trading volume of 2,471,989 shares, compared to its average volume of 2,508,011. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.29 and a beta of 0.55. Range Resources Corporation has a twelve month low of $28.00 and a twelve month high of $43.50. The business has a 50 day simple moving average of $35.52 and a 200 day simple moving average of $37.03.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter last year, the firm earned $0.46 earnings per share. On average, analysts expect that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.09 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is presently 18.09%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RRC. Mizuho raised their price objective on Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Barclays increased their target price on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Roth Capital downgraded shares of Range Resources from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Piper Sandler decreased their target price on shares of Range Resources from $41.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Scotiabank set a $46.00 target price on shares of Range Resources and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.75.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.