Russell Investments Group Ltd. Has $16.96 Million Holdings in Range Resources Corporation $RRC

Key Points

• Russell Investments Group Ltd. increased its stake in Range Resources Corporation by 11.5%, bringing its total holdings to $16.96 million at the end of the 1st quarter.
• Multiple institutional investors have recently adjusted their holdings in Range Resources, with 98.93% of the stock currently owned by institutional investors.
• Range Resources reported a quarterly earnings per share of $0.66, exceeding expectations, alongside a significant revenue of $856.28 million.

Russell Investments Group Ltd. boosted its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 11.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,738 shares of the oil and gas exploration company's stock after purchasing an additional 43,643 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.18% of Range Resources worth $16,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Callan Family Office LLC increased its holdings in Range Resources by 16.8% during the 1st quarter. Callan Family Office LLC now owns 9,158 shares of the oil and gas exploration company's stock worth $366,000 after purchasing an additional 1,315 shares during the last quarter. Informed Momentum Co LLC bought a new position in shares of Range Resources during the first quarter worth about $3,575,000. Nuveen LLC bought a new position in shares of Range Resources during the first quarter worth about $19,396,000. King Luther Capital Management Corp lifted its position in shares of Range Resources by 2,522.3% during the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company's stock worth $32,888,000 after purchasing an additional 792,240 shares during the last quarter. Finally, Entropy Technologies LP lifted its position in shares of Range Resources by 23.9% during the first quarter. Entropy Technologies LP now owns 9,376 shares of the oil and gas exploration company's stock worth $374,000 after purchasing an additional 1,809 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of NYSE RRC traded up $0.2320 during midday trading on Friday, reaching $33.4220. 440,789 shares of the company traded hands, compared to its average volume of 2,856,200. Range Resources Corporation has a 52 week low of $27.55 and a 52 week high of $43.50. The stock has a 50-day moving average price of $37.51 and a 200 day moving average price of $37.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 0.27 and a beta of 0.60.

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 for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The business had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same period in the previous year, the business earned $0.46 earnings per share. Sell-side analysts anticipate that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the sale, the director directly owned 13,663 shares in the company, valued at $548,706.08. The trade was a 23.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RRC has been the topic of several research analyst reports. Barclays increased their price target on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Scotiabank set a $46.00 target price on shares of Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Roth Capital lowered shares of Range Resources from a "buy" rating to a "neutral" rating and lowered their target price for the company from $44.00 to $35.00 in a research note on Monday. Royal Bank Of Canada reiterated a "sector perform" rating and set a $45.00 target price on shares of Range Resources in a research note on Tuesday, July 15th. Finally, Susquehanna raised their price target on Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $42.75.

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.