TCW Group Inc. Has $2.42 Million Stock Position in Range Resources Corporation (NYSE:RRC)

Key Points

• TCW Group Inc. has increased its stake in Range Resources Corporation by 51.8%, acquiring a total of 60,697 shares valued at approximately $2.42 million.
• Range Resources reported earnings of $0.66 per share for the last quarter, exceeding analysts' expectations and contributing to a revenue of $856.28 million.
• The company recently declared a quarterly dividend of $0.09 per share, resulting in an annualized yield of 1.01%, with a payout ratio of 18.09%.

TCW Group Inc. increased its position in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 51.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,697 shares of the oil and gas exploration company's stock after purchasing an additional 20,708 shares during the quarter. TCW Group Inc.'s holdings in Range Resources were worth $2,424,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after purchasing an additional 315 shares in the last quarter. Xponance Inc. grew its holdings in Range Resources by 1.2% during the 1st quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock worth $1,099,000 after acquiring an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Range Resources by 0.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company's stock worth $2,636,000 after acquiring an additional 328 shares during the last quarter. Fifth Third Bancorp grew its holdings in Range Resources by 20.6% during the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock worth $83,000 after acquiring an additional 355 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in Range Resources by 5.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company's stock worth $266,000 after acquiring an additional 360 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Up 0.5%

Range Resources stock opened at $35.56 on Tuesday. The company's 50 day simple moving average is $39.09 and its 200 day simple moving average is $38.02. Range Resources Corporation has a fifty-two week low of $27.29 and a fifty-two week high of $43.50. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.29 and a beta of 0.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55.

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. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same quarter last year, the firm earned $0.46 EPS. As a group, sell-side analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's payout ratio is currently 18.09%.

Insider Transactions at Range Resources

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer owned 58,431 shares of the company's stock, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James M. Funk sold 13,582 shares of Range Resources 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 transaction, the director directly owned 54,394 shares in the company, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on RRC. Roth Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price objective on shares of Range Resources in a report on Tuesday, July 15th. Stephens reissued an "overweight" rating and set a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. UBS Group increased their price objective on shares of Range Resources from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Wall Street Zen lowered shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus target price of $43.37.

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.

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