Cramer Rosenthal Mcglynn LLC Has $18.84 Million Stock Holdings in Range Resources Corporation $RRC

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in Range Resources Corporation by 1.9%, acquiring an additional 8,893 shares, bringing its total holdings to 471,891 shares valued at approximately $18.8 million.
• Range Resources recently reported a quarterly earnings per share (EPS) of $0.66, slightly surpassing analysts' expectations, and had a revenue of $856.28 million compared to estimated revenue of $708.38 million.
• The company also announced a quarterly dividend of $0.09 per share, which represents a 1.1% dividend yield, and maintains a dividend payout ratio of 18.09%.

Cramer Rosenthal Mcglynn LLC lifted its position in Range Resources Corporation (NYSE:RRC - Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471,891 shares of the oil and gas exploration company's stock after acquiring an additional 8,893 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.20% of Range Resources worth $18,843,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in Range Resources in the first quarter worth $33,000. Bessemer Group Inc. increased its position in shares of Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after buying an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Range Resources during the 1st quarter worth $39,000. Fifth Third Bancorp raised its stake in 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 worth $83,000 after buying an additional 355 shares during the period. Finally, UMB Bank n.a. raised its stake in 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 worth $103,000 after buying an additional 1,434 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Up 1.7%

RRC stock traded up $0.59 during midday trading on Thursday, hitting $34.42. The company's stock had a trading volume of 2,119,227 shares, compared to its average volume of 2,366,055. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources Corporation has a twelve month low of $27.55 and a twelve month high of $43.50. The company's fifty day moving average price is $36.68 and its 200 day moving average price is $37.31. The stock has a market capitalization of $8.20 billion, a P/E ratio of 17.29, a PEG ratio of 0.28 and a beta of 0.60.

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

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's dividend payout ratio is 18.09%.

Wall Street Analyst Weigh In

RRC has been the topic of several research analyst reports. Roth Capital downgraded Range Resources from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Piper Sandler dropped their price objective on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Bank of America raised their price objective on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Barclays raised their price objective on Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Finally, Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Range Resources currently has a consensus rating of "Hold" and an average 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.