Guggenheim Capital LLC Sells 71,660 Shares of Range Resources Co. (NYSE:RRC)

Guggenheim Capital LLC lessened its position in Range Resources Co. (NYSE:RRC - Free Report) by 89.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,414 shares of the oil and gas exploration company's stock after selling 71,660 shares during the period. Guggenheim Capital LLC's holdings in Range Resources were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RRC. LPL Financial LLC lifted its position in Range Resources by 23.2% during the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after purchasing an additional 21,440 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after buying an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Range Resources during the 4th quarter valued at $380,000. Calamos Advisors LLC purchased a new stake in Range Resources during the fourth quarter valued at $567,000. Finally, Radnor Capital Management LLC increased its position in Range Resources by 156.2% during the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock valued at $1,547,000 after acquiring an additional 26,213 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on RRC. Truist Financial boosted their price target on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a research note on Monday, March 17th. Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and upped their target price for the company from $41.00 to $42.00 in a report on Tuesday, April 8th. Citigroup cut shares of Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. UBS Group upped their price target on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley set a $41.00 price objective on Range Resources in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $41.50.

Range Resources Price Performance

Shares of RRC stock traded up $0.57 on Friday, reaching $34.79. The company's stock had a trading volume of 294,538 shares, compared to its average volume of 2,447,004. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The stock's fifty day simple moving average is $36.37 and its 200-day simple moving average is $35.82. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources Co. has a 1 year low of $27.29 and a 1 year high of $41.95.

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

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

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.