TD Asset Management Inc decreased its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,910 shares of the oil and gas exploration company's stock after selling 49,142 shares during the quarter. TD Asset Management Inc owned approximately 0.28% of Range Resources worth $26,310,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC boosted its position in shares of Range Resources by 23.2% in the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock worth $4,095,000 after acquiring an additional 21,440 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Range Resources by 98.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company's stock worth $720,000 after buying an additional 8,941 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Range Resources by 24.5% during the 4th quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company's stock worth $15,249,000 after buying an additional 83,353 shares during the last quarter. Advisor Resource Council bought a new stake in Range Resources during the first quarter valued at $622,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Range Resources in the 1st quarter worth approximately $612,000. 98.93% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on RRC. Mizuho increased their price objective on Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Scotiabank set a $46.00 price target on Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Morgan Stanley set a $41.00 price target on Range Resources in a research note on Tuesday, April 15th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $45.00 target price on shares of Range Resources in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Range Resources has a consensus rating of "Hold" and an average target price of $43.37.
Read Our Latest Stock Report on RRC
Range Resources Price Performance
Shares of Range Resources stock traded up $0.18 during trading on Wednesday, hitting $36.67. 2,333,057 shares of the company's stock traded hands, compared to its average volume of 2,958,674. Range Resources Corporation has a twelve month low of $27.29 and a twelve month high of $43.50. The firm's fifty day moving average price is $38.97 and its 200 day moving average price is $38.00. 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 $8.73 billion, a PE ratio of 18.43, a PEG ratio of 0.29 and a beta of 0.63.
Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm 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. Analysts forecast that Range Resources Corporation will post 2.02 earnings per share for the current year.
Range Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is presently 18.09%.
Insider Activity at Range Resources
In related news, SVP Erin W. Mcdowell sold 9,568 shares of Range Resources stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the sale, the senior vice president directly owned 13,800 shares in the company, valued at approximately $560,556. This trade represents a 40.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $168,672.00. Following the completion of the sale, the director directly owned 13,663 shares in the company, valued at approximately $548,706.08. This trade represents a 23.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is owned by company insiders.
Range Resources Profile
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Free Report)
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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