Capital Fund Management S.A. Trims Stock Position in Range Resources Corporation $RRC

Key Points

• Capital Fund Management S.A. sold 21,232 shares of Range Resources Corporation, reducing its holdings by 34.8%, leaving it with 39,865 shares valued at approximately $1.59 million.
• Several institutional investors increased their positions in Range Resources, with Wellington Management Group leading with a 50.1% boost during the first quarter, now owning over 1.4 million shares.
• Range Resources reported a quarterly EPS of $0.66, surpassing estimates, and declared a quarterly dividend of $0.09 per share with a dividend yield of 1.1%.

Capital Fund Management S.A. lowered its holdings in Range Resources Corporation (NYSE:RRC - Free Report) by 34.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,865 shares of the oil and gas exploration company's stock after selling 21,232 shares during the quarter. Capital Fund Management S.A.'s holdings in Range Resources were worth $1,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Range Resources by 98.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock worth $720,000 after acquiring an additional 8,941 shares during the period. Ameriprise Financial Inc. grew its position in Range Resources by 24.5% during the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock valued at $15,249,000 after buying an additional 83,353 shares during the period. Informed Momentum Co LLC acquired a new stake in Range Resources during the first quarter valued at $3,575,000. Advisor Resource Council acquired a new stake in Range Resources during the first quarter valued at $622,000. Finally, Goehring & Rozencwajg Associates LLC grew its position in Range Resources by 1.8% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company's stock valued at $57,803,000 after buying an additional 25,403 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Price Performance

RRC traded down $0.20 during midday trading on Friday, hitting $34.24. 1,928,658 shares of the company traded hands, compared to its average volume of 2,369,049. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.28 and a beta of 0.60. Range Resources Corporation has a 52-week low of $27.55 and a 52-week high of $43.50. The business has a 50 day simple moving average of $36.50 and a two-hundred day simple moving average of $37.26.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $856.28 million for 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 period last year, the firm posted $0.46 earnings per share. On average, equities analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Range Resources's dividend payout ratio (DPR) is currently 18.09%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RRC shares. Scotiabank set a $46.00 price target on shares of Range Resources and gave the company a "sector perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada restated a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a research report on Tuesday, July 15th. Piper Sandler dropped their price target on shares of Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Barclays raised their price target on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Mizuho raised their price target on shares of Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Seven equities 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $42.75.

Range Resources Profile

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.