Northern Trust Corp Has $89.02 Million Position in Range Resources Corporation $RRC

Key Points

• Northern Trust Corp reduced its stake in Range Resources Corporation by 0.4%, selling 9,414 shares, and now holds approximately 2.23 million shares valued at $89 million.
• Insider trading activity showed that Director Reginal Spiller sold 4,200 shares, decreasing their ownership by 23.51% at an average price of $40.16.
• Analysts have mixed opinions on Range Resources, with updated price targets ranging from $39 to $47, and a consensus rating of "Hold" with a target price of $42.75.

Northern Trust Corp cut its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 0.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,229,449 shares of the oil and gas exploration company's stock after selling 9,414 shares during the quarter. Northern Trust Corp owned approximately 0.93% of Range Resources worth $89,022,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 valued at $720,000 after acquiring an additional 8,941 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Range Resources by 24.5% in the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock valued at $15,249,000 after buying an additional 83,353 shares during the last quarter. Informed Momentum Co LLC bought a new position in shares of Range Resources in the first quarter valued at about $3,575,000. Advisor Resource Council bought a new position in shares of Range Resources in the first quarter valued at about $622,000. Finally, Goehring & Rozencwajg Associates LLC raised its holdings 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 last quarter. 98.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Roth Capital cut Range Resources from a "buy" rating to a "neutral" rating and cut their price target for the company from $44.00 to $35.00 in a report on Monday, August 18th. Susquehanna lifted their price target on Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Barclays lifted their price target on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Bank of America lifted their price target on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Piper Sandler lowered their price objective on Range Resources from $41.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $42.75.

Range Resources Trading Down 0.6%

RRC stock traded down $0.20 during midday trading on Friday, reaching $34.24. The stock had a trading volume of 1,928,658 shares, compared to its average volume of 2,369,049. The business has a fifty day simple moving average of $36.50 and a two-hundred day simple moving average of $37.27. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.28 and a beta of 0.60. Range Resources Corporation has a twelve month low of $27.55 and a twelve month high of $43.50.

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

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 12th. Range Resources's payout ratio is presently 18.09%.

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.