Boston Partners Reduces Stock Holdings in Range Resources Corporation (NYSE:RRC)

Key Points

• Boston Partners reduced its stake in Range Resources Corporation (NYSE:RRC) by 12.3%, holding 6,993,804 shares worth approximately $279.14 million after selling 982,248 shares in the first quarter.
• Range Resources reported an earnings per share (EPS) of $0.66 for the last quarter, surpassing analysts' expectations of $0.65, with total revenue of $856.28 million.
• The company recently declared a $0.09 quarterly dividend, representing an annualized dividend yield of 1.1% and a dividend payout ratio of 18.09%.

Boston Partners trimmed its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,993,804 shares of the oil and gas exploration company's stock after selling 982,248 shares during the period. Boston Partners owned approximately 2.93% of Range Resources worth $279,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Range Resources during the 1st quarter valued at approximately $33,000. Bessemer Group Inc. increased its holdings in shares of Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Range Resources during the 1st quarter valued at approximately $39,000. Fifth Third Bancorp increased its holdings in shares of Range Resources by 20.6% during the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Range Resources by 124.9% during the 1st quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after purchasing an additional 1,434 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

Shares of Range Resources stock traded down $0.12 during trading hours on Thursday, reaching $34.26. 2,480,056 shares of the company's stock were exchanged, compared to its average volume of 2,770,183. Range Resources Corporation has a 1 year low of $27.55 and a 1 year high of $43.50. The company has a market capitalization of $8.16 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 0.27 and a beta of 0.60. The business has a fifty day moving average of $38.09 and a two-hundred day moving average of $37.60. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million during the quarter, compared to analyst estimates of $708.38 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Range Resources's dividend payout ratio is presently 18.09%.

Insider Activity

In other news, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the sale, the director owned 13,663 shares of the company's stock, valued at $548,706.08. This represents a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on RRC. Susquehanna lifted their target price on shares of Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. UBS Group lifted their target price on shares of Range Resources from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Finally, Stephens reaffirmed an "overweight" rating and set a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $43.26.

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.