Teza Capital Management LLC Cuts Stock Position in Range Resources Co. (NYSE:RRC)

Teza Capital Management LLC lessened its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 31.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 40,889 shares of the oil and gas exploration company's stock after selling 18,430 shares during the period. Teza Capital Management LLC's holdings in Range Resources were worth $1,471,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Barclays PLC grew its position in shares of Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after purchasing an additional 142,938 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Range Resources during the fourth quarter valued at about $4,792,000. Diversify Wealth Management LLC grew its position in shares of Range Resources by 30.1% during the fourth quarter. Diversify Wealth Management LLC now owns 14,997 shares of the oil and gas exploration company's stock valued at $572,000 after purchasing an additional 3,466 shares in the last quarter. UMB Bank n.a. grew its position in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Range Resources by 0.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company's stock valued at $2,397,000 after purchasing an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Upgrades and Downgrades

RRC has been the subject of a number of research analyst reports. Stephens restated an "overweight" rating and set a $49.00 price objective on shares of Range Resources in a research report on Wednesday, April 23rd. StockNews.com upgraded Range Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upgraded Range Resources from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $43.00 to $45.00 in a research report on Thursday, March 13th. Roth Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Truist Financial lifted their price target on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $41.85.

Range Resources Stock Performance

Range Resources stock opened at $40.11 on Monday. The company has a 50 day moving average price of $36.56 and a 200-day moving average price of $36.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources Co. has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a market capitalization of $9.59 billion, a PE ratio of 20.26, a P/E/G ratio of 5.11 and a beta of 0.60.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.90%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insider Activity at Range Resources

In related 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 transaction of $1,449,057.00. Following the transaction, the chief executive officer now directly owns 58,431 shares of the company's stock, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James M. Funk sold 13,582 shares of Range Resources stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the transaction, the director now directly owns 54,394 shares in the company, valued at $1,905,421.82. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,880 shares of company stock valued at $2,815,807 over the last ninety days. 1.00% of the stock is owned by company insiders.

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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