Range Resources Corporation $RRC Shares Sold by RR Advisors LLC

Key Points

• RR Advisors LLC cut its stake in Range Resources by 10.7%, selling 16,000 shares and retaining a total of 134,000 shares, which now accounts for about 1.3% of their investment portfolio.
• Range Resources reported a quarterly earnings per share (EPS) of $0.66, exceeding analyst expectations of $0.65, with revenue reaching $856.28 million for the quarter.
• The company announced a quarterly dividend of $0.09 per share, providing an annualized yield of 1.1% and a dividend payout ratio of 18.09%.

RR Advisors LLC lowered its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,000 shares of the oil and gas exploration company's stock after selling 16,000 shares during the quarter. Range Resources makes up about 1.3% of RR Advisors LLC's holdings, making the stock its 19th largest holding. RR Advisors LLC owned 0.06% of Range Resources worth $5,335,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of Range Resources during the first quarter valued at approximately $33,000. Bessemer Group Inc. grew its position in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Range Resources in the first quarter valued at approximately $39,000. Fifth Third Bancorp grew its position in shares of Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Range Resources by 124.9% in the first quarter. UMB Bank n.a. now owns 2,582 shares of the oil and gas exploration company's stock valued at $103,000 after purchasing an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of Range Resources 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 sale, the director owned 13,663 shares of the company's stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Range Resources Stock Performance

Shares of RRC stock traded down $1.29 during mid-day trading on Monday, hitting $33.09. 4,404,943 shares of the stock were exchanged, compared to its average volume of 2,779,362. The stock's fifty day simple moving average is $37.90 and its two-hundred day simple moving average is $37.55. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.27 and a beta of 0.60. Range Resources Corporation has a 12-month low of $27.55 and a 12-month high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $856.28 million for 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 quarter last year, the company posted $0.46 earnings per share. On average, analysts forecast that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

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. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's payout ratio is currently 18.09%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RRC. Bank of America upped their price target on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Roth Capital lowered Range Resources from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $44.00 to $35.00 in a research report on Monday. Susquehanna increased their price objective on Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. 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. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 price objective on shares of Range Resources in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.85.

Range Resources 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.