Sei Investments Co. Sells 54,955 Shares of Range Resources Corporation $RRC

Sei Investments Co. lessened its position in Range Resources Corporation (NYSE:RRC - Free Report) by 15.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 304,936 shares of the oil and gas exploration company's stock after selling 54,955 shares during the quarter. Sei Investments Co. owned approximately 0.13% of Range Resources worth $13,777,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Range Resources by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company's stock worth $901,021,000 after purchasing an additional 701,751 shares during the period. King Luther Capital Management Corp lifted its position in Range Resources by 49.8% during the fourth quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company's stock valued at $45,202,000 after buying an additional 426,300 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Range Resources by 101.2% during the 4th quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company's stock valued at $2,351,000 after buying an additional 33,544 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in shares of Range Resources during the 4th quarter valued at $21,129,000. Finally, Stanley Laman Group Ltd. purchased a new stake in shares of Range Resources in the 4th quarter worth about $2,890,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RRC. Bank of America increased their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 21st. Stephens upped their price objective on shares of Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Zacks Research downgraded shares of Range Resources from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Morgan Stanley lowered their target price on shares of Range Resources from $50.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, June 29th. Finally, Raymond James Financial set a $45.00 price target on Range Resources in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $43.35.

Range Resources Trading Down 0.8%

Shares of NYSE:RRC opened at $39.61 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. Range Resources Corporation has a 1 year low of $32.60 and a 1 year high of $48.31. The company has a market cap of $9.26 billion, a P/E ratio of 10.94 and a beta of 0.41. The stock's fifty day moving average price is $37.97 and its 200-day moving average price is $39.59.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to analysts' expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. Sell-side analysts expect that Range Resources Corporation will post 3.49 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources's dividend payout ratio (DPR) is presently 11.05%.

Range Resources Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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