Deutsche Bank AG Sells 10,955 Shares of Range Resources Co. (NYSE:RRC)

Deutsche Bank AG lessened its stake in Range Resources Co. (NYSE:RRC - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,008 shares of the oil and gas exploration company's stock after selling 10,955 shares during the quarter. Deutsche Bank AG's holdings in Range Resources were worth $1,368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. increased its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after acquiring an additional 426 shares during the last quarter. Headlands Technologies LLC acquired a new position in Range Resources during the fourth quarter valued at approximately $42,000. Geneos Wealth Management Inc. bought a new stake in Range Resources during the fourth quarter worth $46,000. Finally, Quent Capital LLC boosted its holdings in shares of Range Resources by 72.0% in the 4th quarter. Quent Capital LLC now owns 2,178 shares of the oil and gas exploration company's stock valued at $78,000 after purchasing an additional 912 shares in the last quarter. Institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RRC shares. Susquehanna lowered their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Truist Financial boosted their target price on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, March 17th. Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group lifted their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and increased their price objective for the company from $41.00 to $42.00 in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Range Resources currently has an average rating of "Hold" and a consensus price target of $41.95.

Range Resources Trading Down 0.4%

Shares of NYSE RRC traded down $0.15 during midday trading on Thursday, reaching $39.19. The stock had a trading volume of 1,668,740 shares, compared to its average volume of 2,470,020. Range Resources Co. has a twelve month low of $27.29 and a twelve month high of $41.95. The company's 50 day moving average price is $36.60 and its 200 day moving average price is $36.86. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period last year, the company posted $0.63 EPS. As a group, sell-side analysts expect that Range Resources Co. will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio is presently 32.14%.

Insiders Place Their Bets

In other news, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the transaction, the senior vice president now directly owns 13,800 shares of the company's stock, valued at $560,556. This represents a 40.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reginal Spiller sold 4,200 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the sale, the director now owns 13,663 shares in the company, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is currently owned by company insiders.

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.