Toth Financial Advisory Corp Sells 21,795 Shares of Range Resources Corporation $RRC

Key Points

• Toth Financial Advisory Corp significantly reduced its ownership in Range Resources Corporation by 91.9%, selling 21,795 shares and leaving it with only 1,930 shares valued at $78,000.
• Range Resources recently announced a quarterly dividend of $0.09 per share, representing an annualized dividend yield of 1.0%, with a payout ratio of 18.09%.
• Equities analysts have mixed opinions on Range Resources, with a consensus rating of Hold and a target price of $41.75, while multiple firms have adjusted their price objectives downward.

Toth Financial Advisory Corp lowered its stake in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 91.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,930 shares of the oil and gas exploration company's stock after selling 21,795 shares during the period. Toth Financial Advisory Corp's holdings in Range Resources were worth $78,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Range Resources in the 1st quarter valued at $33,000. Bessemer Group Inc. increased its holdings in 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 during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Range Resources in the 1st quarter valued at about $39,000. State of Wyoming acquired a new stake in shares of Range Resources in the 1st quarter valued at about $71,000. Finally, Fifth Third Bancorp boosted its position in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RRC shares. Susquehanna lifted their target price on Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Scotiabank set a $46.00 target price on shares of Range Resources and gave the company a "sector perform" rating in a research note on Friday, July 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $45.00 price target on shares of Range Resources in a research report on Tuesday, July 15th. Mizuho decreased their price objective on Range Resources from $48.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, UBS Group lowered their target price on shares of Range Resources from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $41.75.

Range Resources Price Performance

NYSE:RRC traded up $0.44 during trading hours on Monday, hitting $34.94. 2,487,328 shares of the stock traded hands, compared to its average volume of 2,949,743. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 0.29 and a beta of 0.55. The stock has a 50 day moving average price of $35.01 and a 200 day moving average price of $36.92. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources Corporation has a 1 year low of $28.99 and a 1 year high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million during 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 prior year, the firm posted $0.46 earnings per share. Sell-side analysts forecast that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources's payout ratio is presently 18.09%.

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.