Deutsche Bank AG cut its position in Range Resources Co. (NYSE:RRC - Free Report) by 22.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its holdings in shares of Range Resources by 180.8% in the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock worth $6,830,000 after buying an additional 142,938 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after buying an additional 426 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Range Resources by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company's stock worth $2,397,000 after buying an additional 420 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Range Resources in the 4th quarter worth $304,000. Finally, Red Door Wealth Management LLC bought a new position in shares of Range Resources in the 4th quarter worth $252,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Range Resources
In other news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the transaction, the chief executive officer now owns 58,431 shares in the company, valued at $2,361,781.02. This trade represents a 38.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $388,652.16. Following the transaction, the senior vice president now owns 13,800 shares in the company, valued at $560,556. This trade represents a 40.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,880 shares of company stock valued at $2,815,807 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
RRC has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research note on Monday, March 17th. Bank of America increased their price target on shares of Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Morgan Stanley set a $41.00 price target on shares of Range Resources in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upgraded shares of Range Resources from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $43.00 to $45.00 in a report on Thursday, March 13th. Finally, Susquehanna decreased their price target on shares of Range Resources from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and an average target price of $41.95.
Check Out Our Latest Stock Analysis on RRC
Range Resources Price Performance
Shares of RRC stock traded down $0.36 during mid-day trading on Wednesday, hitting $39.46. The company had a trading volume of 1,332,342 shares, compared to its average volume of 2,465,593. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The stock's 50 day moving average price is $36.64 and its 200-day moving average price is $36.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $9.43 billion, a P/E ratio of 19.95, a P/E/G ratio of 5.11 and a beta of 0.60.
Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results 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 net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current year.
Range Resources Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.09 per share. 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 dividend on an annualized basis and a dividend yield of 0.91%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.
About Range Resources
(
Free Report)
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.
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