Rafferty Asset Management LLC Cuts Holdings in Range Resources Co. (NYSE:RRC)

Rafferty Asset Management LLC cut its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,171 shares of the oil and gas exploration company's stock after selling 22,150 shares during the quarter. Rafferty Asset Management LLC owned 0.08% of Range Resources worth $6,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RRC. Private Capital Management LLC boosted its position in shares of Range Resources by 7.1% during the 4th quarter. Private Capital Management LLC now owns 22,500 shares of the oil and gas exploration company's stock worth $810,000 after purchasing an additional 1,500 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Range Resources by 7.0% in the 4th quarter. ProShare Advisors LLC now owns 11,289 shares of the oil and gas exploration company's stock valued at $406,000 after purchasing an additional 736 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Range Resources by 64.1% in the fourth quarter. Quantinno Capital Management LP now owns 12,470 shares of the oil and gas exploration company's stock valued at $449,000 after purchasing an additional 4,871 shares during the period. Man Group plc boosted its holdings in Range Resources by 69.7% during the fourth quarter. Man Group plc now owns 189,956 shares of the oil and gas exploration company's stock worth $6,835,000 after buying an additional 78,002 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Range Resources during the fourth quarter worth about $1,152,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Up 0.2%

NYSE:RRC traded up $0.07 on Friday, reaching $39.48. The stock had a trading volume of 338,690 shares, compared to its average volume of 2,925,642. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 5.11 and a beta of 0.60. The firm's fifty day moving average is $36.67 and its two-hundred day moving average is $36.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick 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, beating analysts' consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities analysts expect that Range Resources Co. will post 2.02 EPS for the current fiscal 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 $0.09 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.91%. Range Resources's payout ratio is 32.14%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Piper Sandler raised their price objective on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Roth Mkm raised Range Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $41.00 to $42.00 in a report on Tuesday, April 8th. Wall Street Zen lowered Range Resources from a "hold" rating to a "sell" rating in a report on Wednesday. Finally, Raymond James raised their price target on Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.85.

Insiders Place Their Bets

In other news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction dated Wednesday, May 14th. The shares were 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 directly owns 58,431 shares in the company, valued at $2,361,781.02. This represents a 38.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James M. Funk sold 13,582 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares of the company's stock, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,880 shares of company stock valued at $2,815,807 in the last quarter. 1.00% of the stock is currently owned by company 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.