Deutsche Bank AG Lowers Stock Position in Range Resources Co. (NYSE:RRC)

Deutsche Bank AG cut its holdings in shares of Range Resources Co. (NYSE:RRC - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Boston Partners lifted its holdings in shares of Range Resources by 4.9% in the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock worth $287,078,000 after buying an additional 371,777 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after buying an additional 624,955 shares in the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock worth $246,968,000 after buying an additional 165,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock worth $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock worth $80,554,000 after buying an additional 605,315 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Range Resources

In related news, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares of the company's stock, valued at $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $39.00, for a total value of $502,320.00. Following the completion of the sale, the vice president now directly owns 1,723 shares of the company's stock, valued at $67,197. The trade was a 88.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,880 shares of company stock worth $2,815,807. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

RRC has been the topic of a number of recent analyst reports. Stephens reissued an "overweight" rating and issued a $49.00 price target on shares of Range Resources in a report on Wednesday, April 23rd. Morgan Stanley set a $41.00 price target on shares of Range Resources in a report on Tuesday, April 15th. The Goldman Sachs Group increased their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Bank of America raised their target price on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday. Finally, UBS Group raised their target price on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $41.95.

Range Resources Price Performance

Shares of RRC stock traded up $0.28 during trading hours on Tuesday, hitting $39.83. 2,252,205 shares of the company's stock were exchanged, compared to its average volume of 2,469,403. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a market capitalization of $9.52 billion, a PE ratio of 20.12, a PEG ratio of 5.11 and a beta of 0.60. The business's 50 day simple moving average is $36.65 and its 200-day simple moving average is $36.79.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same quarter last year, the business earned $0.63 earnings per share. On average, equities research analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. This is a boost from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. Range Resources's dividend payout ratio (DPR) is currently 32.14%.

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.