S&CO Inc. Acquires Shares of 31,300 Range Resources Corporation (NYSE:RRC)

Key Points

• S&CO Inc. has invested approximately $1.25 million in Range Resources Corporation by acquiring 31,300 shares during the first quarter.
• Range Resources recently reported an earnings per share (EPS) of $0.66, exceeding analyst expectations of $0.65, along with a revenue of $856.28 million.
• The company declared a quarterly dividend of $0.09 per share, yielding 1.01%, with a dividend payout ratio of 18.09%.

S&CO Inc. acquired a new stake in Range Resources Corporation (NYSE:RRC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,300 shares of the oil and gas exploration company's stock, valued at approximately $1,249,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in 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 acquiring an additional 315 shares during the last quarter. Xponance Inc. boosted its stake in Range Resources by 1.2% in the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock valued at $1,099,000 after acquiring an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Range Resources by 0.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company's stock valued at $2,636,000 after acquiring an additional 328 shares during the last quarter. Fifth Third Bancorp boosted its stake in 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 acquiring an additional 355 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in Range Resources by 5.7% in the first quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company's stock valued at $266,000 after acquiring an additional 360 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Performance

Shares of Range Resources stock traded up $0.94 during trading on Tuesday, hitting $36.50. 2,644,680 shares of the stock were exchanged, compared to its average volume of 3,017,246. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 0.29 and a beta of 0.63. The company has a fifty day moving average price of $39.02 and a 200-day moving average price of $38.01. Range Resources Corporation has a 1-year low of $27.29 and a 1-year high of $43.50. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share 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 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 EPS. As a group, equities analysts predict that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.99%. Range Resources's dividend payout ratio (DPR) is currently 18.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lifted 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. Susquehanna lifted their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. UBS Group lifted their price target on shares of Range Resources from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a research report on Tuesday, July 15th. Finally, Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of "Hold" and an average target price of $43.37.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the completion of the sale, the director owned 13,663 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the business's 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 completion of the sale, the chief executive officer directly owned 58,431 shares of the company's stock, valued at $2,361,781.02. This represents a 38.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock worth $2,984,479 in the last 90 days. Corporate insiders own 1.00% of the company's stock.

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.