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Voya Investment Management LLC Acquires 96,701 Shares of Range Resources Corporation $RRC

Range Resources logo with Energy background

Key Points

  • Voya Investment Management LLC increased its stake in Range Resources Corporation by 246.1%, now holding approximately 135,996 shares valued at $5.43 million.
  • The company recently announced a quarterly dividend of $0.09 per share, representing an annualized yield of 1.0%, with the ex-dividend date set for September 12th.
  • Analysts have varied outlooks on Range Resources, with price targets ranging from $39.00 to $47.00, leading to an average rating of "Hold."
  • Five stocks we like better than Range Resources.

Voya Investment Management LLC lifted its holdings in shares of Range Resources Corporation (NYSE:RRC - Free Report) by 246.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,996 shares of the oil and gas exploration company's stock after purchasing an additional 96,701 shares during the period. Voya Investment Management LLC owned about 0.06% of Range Resources worth $5,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in Range Resources in the 4th quarter valued at about $33,684,000. King Luther Capital Management Corp grew its holdings in Range Resources by 2,522.3% during the 1st quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company's stock worth $32,888,000 after acquiring an additional 792,240 shares in the last quarter. Royal Bank of Canada raised its stake in Range Resources by 367.6% during the fourth quarter. Royal Bank of Canada now owns 685,721 shares of the oil and gas exploration company's stock worth $24,673,000 after acquiring an additional 539,083 shares during the period. AQR Capital Management LLC boosted its stake in Range Resources by 3,222.9% during the 1st quarter. AQR Capital Management LLC now owns 539,135 shares of the oil and gas exploration company's stock valued at $21,528,000 after purchasing an additional 522,910 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Range Resources during the first quarter valued at about $19,396,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

Range Resources Price Performance

Shares of Range Resources stock traded up $0.44 during trading on Monday, reaching $34.94. The company's stock had a trading volume of 2,487,328 shares, compared to its average volume of 2,949,743. Range Resources Corporation has a one year low of $28.99 and a one year high of $43.50. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $35.01 and a two-hundred day moving average price of $36.92. The stock has a market capitalization of $8.32 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 0.29 and a beta of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last posted 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. The firm had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts anticipate that Range Resources Corporation will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

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

Analyst Ratings Changes

RRC has been the subject of several research reports. Raymond James Financial reduced their price objective on Range Resources from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Friday. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Scotiabank set a $46.00 target price on Range Resources and gave the company a "sector perform" rating in a report on Friday, July 11th. Piper Sandler lowered their price objective on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Roth Capital lowered shares of Range Resources from a "buy" rating to a "neutral" rating and decreased their target price for the company from $44.00 to $35.00 in a research report on Monday, August 18th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $41.75.

Get Our Latest Stock Report on RRC

Range Resources Profile

(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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Institutional Ownership by Quarter for Range Resources (NYSE:RRC)

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