Bruni J V & Co. Co. Sells 141,994 Shares of Range Resources Co. (NYSE:RRC)

Bruni J V & Co. Co. lessened its position in Range Resources Co. (NYSE:RRC - Free Report) by 16.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 743,277 shares of the oil and gas exploration company's stock after selling 141,994 shares during the period. Range Resources makes up about 2.8% of Bruni J V & Co. Co.'s holdings, making the stock its 19th largest position. Bruni J V & Co. Co. owned 0.31% of Range Resources worth $22,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company's stock valued at $123,049,000 after acquiring an additional 693,970 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of Range Resources by 66.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company's stock valued at $47,416,000 after buying an additional 585,000 shares during the last quarter. Canoe Financial LP boosted its position in shares of Range Resources by 86.5% during the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company's stock valued at $38,743,000 after buying an additional 554,400 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Range Resources by 56.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 951,501 shares of the oil and gas exploration company's stock valued at $28,964,000 after buying an additional 343,541 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Range Resources by 61.6% during the third quarter. Bank Pictet & Cie Europe AG now owns 838,600 shares of the oil and gas exploration company's stock valued at $27,179,000 after buying an additional 319,800 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Insider Buying and Selling

In related news, VP Ashley Kavanaugh sold 15,978 shares of the business's stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.57% of the stock is owned by company insiders.

Range Resources Stock Performance

Shares of NYSE:RRC traded down $0.34 during midday trading on Friday, reaching $37.31. 2,583,165 shares of the company traded hands, compared to its average volume of 2,248,659. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources Co. has a 12 month low of $23.92 and a 12 month high of $38.25. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83. The firm's fifty day moving average price is $33.80 and its two-hundred day moving average price is $32.40.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same period in the previous year, the company posted $0.96 EPS. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts expect that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date was Thursday, March 14th. Range Resources's payout ratio is 16.24%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Range Resources from $36.00 to $39.00 and gave the company a "buy" rating in a research report on Tuesday, April 23rd. Morgan Stanley lifted their target price on Range Resources from $23.00 to $33.00 and gave the company an "underweight" rating in a research report on Wednesday, April 17th. Citigroup boosted their price objective on Range Resources from $33.00 to $37.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. Mizuho reissued a "buy" rating and issued a $41.00 price objective (up previously from $39.00) on shares of Range Resources in a research report on Friday. Finally, Piper Sandler boosted their price objective on Range Resources from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.65.

About Range Resources

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.