Dimensional Fund Advisors LP Lowers Holdings in Range Resources Corporation $RRC

Key Points

• Dimensional Fund Advisors LP decreased its stake in Range Resources Corporation by 6.7%, owning approximately 2.86% of the company after selling 491,526 shares during the first quarter.
• Range Resources reported a quarterly earnings per share of $0.66, exceeding analyst expectations of $0.65, while generating revenue of $856.28 million for the quarter.
• The company announced a quarterly dividend payment of $0.09 per share, representing an annualized yield of 1.0%.

Dimensional Fund Advisors LP reduced its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,839,150 shares of the oil and gas exploration company's stock after selling 491,526 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.86% of Range Resources worth $273,069,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Range Resources by 98.3% during 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. lifted its holdings 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 worth $15,249,000 after acquiring an additional 83,353 shares during the period. Informed Momentum Co LLC bought a new stake in shares of Range Resources in the first quarter valued at $3,575,000. Advisor Resource Council bought a new stake in shares of Range Resources in the first quarter valued at $622,000. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of Range Resources by 1.8% in 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. 98.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RRC has been the topic of several research reports. Scotiabank set a $46.00 target price on Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Susquehanna boosted their target price on Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Barclays boosted their target price on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Mizuho boosted their target price on Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Piper Sandler lowered their target price 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. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.75.

Range Resources Price Performance

Shares of Range Resources stock traded up $0.13 during trading on Friday, hitting $33.32. 511,653 shares of the stock traded hands, compared to its average volume of 2,856,979. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 0.27 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 firm's fifty day moving average is $37.51 and its 200-day moving average is $37.46. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The company had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. During the same period in the prior year, the business posted $0.46 EPS. Research analysts expect that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 1.1%. Range Resources's dividend payout ratio (DPR) is 18.09%.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 4,200 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the transaction, the director owned 13,663 shares in the company, valued at $548,706.08. This trade represents a 23.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Range Resources Company 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.